Swedish AI coding startup Lovable has just raised $400 million in a Series C funding round, reaching a staggering $13.3 billion valuation — making it one of the most valuable AI startups in Europe. The round was led by Menlo Ventures and the Scaleup Europe Fund, with additional participation from venture capital firms and new investors from Latin America and Asia, including Tencent Holdings. This is a landmark moment for European AI and the global coding startup ecosystem.
Lovable's rise to a $13.3 billion valuation reflects the explosive investor appetite for AI-powered developer tools. With backing from a truly global investor base — spanning Europe, Latin America, and Asia — this funding round signals that the race to build the next generation of AI coding tools is very much a worldwide competition.
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