Lovely co-founders Anton Osika and Fabian Hedin. Credit: adorable
Coding startup Vibe Lovable’s latest funding round values the company at $6.6 billion and includes U.S. venture capital firm Accel, sources with knowledge of the deal told CNBC.
This figure is more than triple the $1.8 billion valuation the Swedish AI company secured after closing its latest funding round in July. This is Lovable’s third in 2025 and follows a year of meteoric growth that has seen it become one of the most valuable startups in Europe.
Both sources asked to remain anonymous while discussing private information. Forbes previously reported in November that the round would value the company at “around” $6 billion.
Accel was participating in the round, both sources said, which had not been previously reported. Accel participated in Lovable’s previous round and became a key backer in the wave of new AI startups. He participated in billion-dollar funding rounds for mood coding startup Cursor and former OpenAI executive Mira Murati’s AI company Thinking Machines.
US investor Khosla Ventures is also participating in the latest round, one of the sources told CNBC.
Lovable, Accel and Khosla Ventures were contacted for comment by CNBC, but did not respond when this article went live.
Founded in 2023, Lovable reported $200 million in annual recurring revenue (ARR) in November, just under a year after first hitting $1 million in ARR.
The startup’s fundraising in July raised $200 million. Besides Accel, investors then included Creandum, Klarna founder Sebastian Siemiatkowski, ElevenLabs founder Mati Staniszewski, and Synthesia founder Victor Riparbelli.
Lovable is Europe’s leading player in the field of mood coding, which has recently attracted huge investor interest.
In the US, Anysphere, which created coding tool Cursor, raised $2.3 billion at a valuation of $29.3 billion in November. In September, Replit hit a $3 billion price tag after raising $250 million and Vercel closed a $300 million funding round at a valuation of $9.3 billion.
Headquartered in Stockholm, the company is opening offices in Boston and San Francisco.
Lovable’s platform uses AI models from vendors like OpenAI and Anthropic to help users build apps and websites using text prompts, without needing to understand coding.
The startup said 100,000 projects were being built every day using its platform when it announced its latest ARR numbers in November.