Latest news with #FabianHedin
Indian Express
3 days ago
- Business
- Indian Express
How Lovable became a successful AI-powered app builder
Lovable, a Swedish AI startup, has crossed $100 million in annual recurring revenue, putting it ahead of most other software firms, including OpenAI. Currently, the firm has more than 2.3 million active users, and last reported 180,000 paying subscribers. Here is a look at Lovable, and how it became such a big company so quickly. Lovable is essentially a company that offers an AI-powered app development platform, allowing users to build entire web applications using natural language prompts. It was founded in November 2023 by Anton Osika and Fabian Hedin with an aim to democratise software development by enabling non-coders to turn their ideas into a reality. The company shot to fame after creating something called GPT Engineer, an open-source tool that showcased the ability of large language models (LLMs) to write functional code from simple prompts. LLMs are trained on massive amounts of text data that can understand and generate human language. Following the success of GPT Engineer, Loveable launched GPT which was meant to be used by non-technical users. At the heart of Lovable's success lies its goal to allow anyone to create web apps with natural language, without the need to code. All one has to do is have a vision, and give instructions to the GPT 'The app eliminates the complexity of traditional app-creation environments by combining coding, deployment, and collaboration in a single interface,' according to a report by Contrary Research, a hub for research and analysis of private tech companies. Users can build a wide range of products from simple websites to complex web apps with the help of Lovable. Not only this, the company provides a user-friendly interference which has been a key in its success.
Yahoo
12-06-2025
- Business
- Yahoo
Fast-growing Swedish vibe coding startup Lovable is set to raise funding from Accel at a $1.5 billion valuation
Vibe coding, which allows novices to write code with AI, has been all the rage lately. Accel is set to lead a new funding round in Swedish vibe coding startup Lovable. The company went from zero to $17 million in annual recurring revenue in its first three months. Accel, the storied venture firm that invested early in Facebook and Slack, is set to lead a new funding round in the Swedish "vibe coding" startup Lovable at a valuation of at least $1.5 billion, according to multiple sources familiar with the deal. Vibe coding, which allows novices with limited programming expertise to create code using AI, has been all the rage lately. Market leader Cursor's parent company, Anysphere, which is also backed by Accel, is reportedly in talks for a $9.9 billion valuation and now could be deployed internally by Amazon, Business Insider previously reported. Other competitors include Cognition AI, Microsoft's GitHub Copilot, and Windsurf, which was recently acquired by OpenAI. Lovable, founded by Anton Osika and Fabian Hedin, aims to make coding even more user-friendly, enabling non-engineers to make software and applications. It has the kind of hockey stick growth that enamors tech investors, going from zero to $17 million in annual recurring revenue in its first three months with 30,000 paying customers. Lovable declined to comment on the funding round, which is still not finalized and could change. Bloomberg previously reported the valuation of the round. Only a few months ago, Lovable raised $15 million in pre-series A funding led by Creandum, a European early-stage firm. Other investors included Charlie Songhurst, who sits on the Meta board, as well as Thomas Wolf, cofounder of Hugging Face. The US has dominated funding for AI startups, something Lovable aims to change. In a blog post, the company said it "may be Europe's fastest-growing AI startup" and that it was "proving that world-class AI companies can emerge from Europe—and win on the global stage." Read the original article on Business Insider Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Insider
12-06-2025
- Business
- Business Insider
Fast-growing Swedish vibe coding startup Lovable is set to raise funding from Accel at a $1.5 billion valuation
Accel, the storied venture firm that invested early in Facebook and Slack, is set to lead a new funding round in the Swedish "vibe coding" startup Lovable at a valuation of at least $1.5 billion, according to multiple sources familiar with the deal. Vibe coding, which allows novices with limited programming expertise to create code using AI, has been all the rage lately. Market leader Cursor's parent company, Anysphere, which is also backed by Accel, is reportedly in talks for a $9.9 billion valuation and now could be deployed internally by Amazon, Business Insider previously reported. Other competitors include Cognition AI, Microsoft's GitHub Copilot, and Windsurf, which was recently acquired by OpenAI. Lovable, founded by Anton Osika and Fabian Hedin, aims to make coding even more user-friendly, enabling non-engineers to make software and applications. It has the kind of hockey stick growth that enamors tech investors, going from zero to $17 million in annual recurring revenue in its first three months with 30,000 paying customers. Lovable declined to comment on the funding round, which is still not finalized and could change. Bloomberg previously reported the valuation of the round. Only a few months ago, Lovable raised $15 million in pre-series A funding led by Creandum, a European early-stage firm. Other investors included Charlie Songhurst, who sits on the Meta board, as well as Thomas Wolf, cofounder of Hugging Face. The US has dominated funding for AI startups, something Lovable aims to change. In a blog post, the company said it "may be Europe's fastest-growing AI startup" and that it was "proving that world-class AI companies can emerge from Europe—and win on the global stage."
