Swedish AI Startup Lovable Soars to $2 Billion Valuation, Fueled by Rapid Growth
Summary
Swedish AI startup Lovable soars to $2 billion valuation, fueled by rapid growth of its web app-building product reaching $50 million ARR in 6 months and beta launch of AI agent for task automation.
Key Points
- Lovable, a Swedish AI startup, is on track to raise $150 million at a $2 billion valuation.
- The company's web app-building product, released in November 2023, has reached $50 million in annual recurring revenue in just six months.
- Lovable has announced a beta version of an AI agent that can automate tasks like editing code and debugging, with a usage-based pricing model.