Lovable Dev Eyes $150 Million Funding Round, Valuing Company Near $2 Billion

Swedish AI software development platform Lovable Dev, co-founded by Anton Osika, is reportedly on the cusp of securing a new funding round exceeding $150 million, which would push its valuation close to $2 billion. The news follows a congratulatory tweet from Cary Gee, acknowledging the successful fundraising efforts of Osika and his team, and highlighting the involvement of investor Dharmesh Shah. This potential investment underscores the rapid ascent of the company, which aims to democratize software creation for non-technical users.

This latest funding initiative comes shortly after Lovable Dev's $15 million pre-Series A round in February 2025, led by Creandum. Prior to that, the company secured a €6.8 million (approximately $7.5 million) pre-seed round in October 2024, with Hummingbird and byFounders at the helm. Accel is reportedly leading the current discussions for the significant $150 million investment, with Creandum and 20VC also participating.

Lovable Dev positions itself as an "AI full-stack engineer," enabling individuals without coding knowledge to build production-ready software using natural language prompts. Founded by Anton Osika and Fabian Hedin, the platform integrates advanced AI models from OpenAI, Google Gemini, and Anthropic to generate functional applications. Its core mission is to break the coding barrier, allowing entrepreneurs, designers, and business owners to transform ideas into real businesses.

The Stockholm-based startup has demonstrated exceptional growth, reportedly reaching $1 million in Annual Recurring Revenue (ARR) in just eight days and $60 million within six months of its product launch in late 2024. Lovable Dev currently serves over 500,000 users, with 30,000 paying customers, and facilitates the creation of approximately 25,000 new products daily. This rapid expansion highlights its unique position in the AI-driven software development market, targeting a broad audience beyond professional engineers.

Investors view Lovable Dev as a significant player in the AI software engineering category, with some comparing its growth trajectory to early-stage Spotify. The company's focus on user-friendly interfaces and rapid application development resonates with a market seeking efficient and accessible tech solutions. As Cary Gee stated in the tweet, > "Congrats @antonosika and team @lovable_dev for the successful fundraising. Plus you have @dharmesh the goat as one of the investors 💪🏻," emphasizing the high-profile backing and confidence in Lovable Dev's vision.