Swedish artificial intelligence startup Lovable has secured $15 million in a pre-Series A funding round led by venture capital firm Creandum, as it continues its mission to enable anyone to build production-ready software without requiring coding knowledge. The company, which first gained widespread attention after reaching the front page of Product Hunt and Hacker News last year, has positioned itself as a disruptor in the AI-driven software development space.
Since its inception, Lovable has aimed to bridge the gap between software engineering and accessibility, allowing users to create web apps, prototypes, and fully functional websites through simple text-based prompts. Unlike existing AI-assisted coding tools such as GitHub Copilot and Cursor, which are primarily used by trained engineers, Lovable is designed to make software development accessible to a broader audience.
The platform’s ability to generate fully operational applications with minimal user effort has led to rapid adoption. Lovable now boasts 500,000 users, who are collectively creating more than 25,000 new products every day. Its growth has also translated into impressive financial performance, with the company reporting $17 million in annual recurring revenue. Notably, it has scaled to 30,000 paying customers while operating on just $2 million in capital from a previous €6.8 million pre-seed funding round, which was led by Hummingbird Ventures and byFounders in October last year.
Lovable’s co-founder and CEO, Anton Osika, emphasized the uniqueness of the platform compared to competitors. Speaking to TechCrunch, he explained that Lovable’s key differentiator lies in its ability to produce functional and deployable software, rather than merely assisting with code snippets. “We’ve seen hundreds of commercial apps built on the platform, at least 25,000 apps a day,” Osika said, highlighting the platform’s widespread adoption.
The company’s technology leverages a combination of AI models from OpenAI, Google Gemini, and Anthropic, integrating them into a single system that can generate and deploy software. Lovable is now expanding its ecosystem by integrating with third-party services such as Supabase for database management and GitHub for code storage, further enhancing its capabilities.
Osika, who co-founded Lovable with engineer Fabian Hedin, first conceived the idea while working at Depict.ai, a YC-backed startup that has raised $20 million from investors such as Initialized Capital, EQT Ventures, and Northzone. His background includes experience at CERN and Sana Labs, while Hedin has worked on groundbreaking technology, including developing the interface used by physicist Stephen Hawking and collaborating with former SpaceX engineers on wheelchair innovations.
“I saw there’s something even larger I can do here, giving the 99% of the population who don’t know how to code access to a software engineer through AI.”
The startup’s rapid rise has caught the attention of high-profile investors. Fredrik Cassel, a general partner at Creandum, drew comparisons to other transformative tech startups, stating,
“I haven’t seen this level of user love for a product since we invested in Spotify.”
The latest funding round also saw participation from Visionaries Club, along with notable angel investors including Charlie Songhurst (Meta board member), Adam D’Angelo and Thomas Wolf (Hugging Face), and Eric Bernhardsson (Modal). With its latest funding secured, Lovable is poised for further expansion, aiming to refine its technology and broaden its reach. As AI continues to reshape industries, Lovable’s approach to making software development more accessible could have far-reaching implications for the future of app creation and digital entrepreneurship.
