Established in 2024, the Swedish startup Lovable is dedicated to the innovative realm of "emotional programming." It provides tools that enable users to write code and construct applications through text - based prompts. Recently, the company made an exciting announcement: it has successfully closed a Series B funding round, raising an impressive $330 million. As a result, its valuation has soared to a staggering $6.6 billion, representing a more than three - fold increase in just a mere five months.

Lovable has witnessed remarkable growth. Within a span of eight months, it achieved an annual recurring revenue of $100 million. And in a mere four months after that, it doubled this figure, surpassing $200 million. During its first year of operation, the company saw the creation of over 25 million projects, with an average of more than 100,000 new projects going live every single day. Its client roster boasts well - known names such as Klarna, Uber, and Zendesk.

Lovable has outlined its plans for utilizing the newly acquired funds. The company intends to deepen product integration, expand its range of functionalities, and enhance its infrastructure. Co - founder and CEO Anton Osika emphasized that the company's strategic decision to develop in Sweden instead of relocating to Silicon Valley has been a key factor in its success. He firmly believes that a global AI company can be successfully built right here in Sweden.

However, the company did face a minor setback. In November, it was accused of failing to pay value - added tax. In response, Lovable stated that it would address and resolve the issue as promptly as possible.

Currently, emotional programming has emerged as a highly sought - after investment area. Another similar company, Cursor, also made headlines in November by securing $2.3 billion in funding, reaching a valuation of $29.3 billion.