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Lovable has more than doubled its valuation in less than a year, becoming one of Europe's most closely watched artificial intelligence startups. The Swedish company announced Wednesday that it raised $400 million in a Series C funding round, giving the AI software development platform a valuation of approximately $13.3 billion.

The latest valuation represents a dramatic increase from the $6.6 billion figure Lovable reached during its Series B funding round in December 2025. In just eight months, the company's valuation has essentially doubled as investors continue pouring money into AI-powered software development.

The funding round was led by Menlo Ventures and co-led by EQT's newly launched Scaleup Europe Fund. The European fund is backed through Horizon Europe and is designed to support companies working on critical technologies, including artificial intelligence and other strategic areas.

Lovable has emerged as a major player in the growing "vibe coding" movement, which allows people to create websites, applications, and software by describing what they want in ordinary language. Instead of manually writing thousands of lines of code, users can give AI instructions and have the platform generate much of the underlying software.

The approach has attracted both individual users and major corporations. Lovable's customers and users include companies such as Nvidia, Adidas, Workday, Asana, and other businesses that are using AI-assisted development to build internal tools, websites, and digital products.

The company's growth has been particularly rapid. Lovable said in June that it had surpassed $500 million in annualized revenue and was generating approximately one million new projects every week. The company has also said that tens of millions of projects have been created using its platform since launch.

Lovable's success reflects the broader surge in demand for AI coding tools. Startups such as Replit and other emerging platforms are competing for a market that could fundamentally change how software is developed, allowing people with limited technical experience to build functioning applications with natural-language instructions.

The company plans to use its new capital to expand its workforce and strengthen its presence in international markets. Lovable is also expected to invest in improving the security, reliability, and capabilities of its platform as more businesses begin relying on AI-generated software for important operations.

The enormous valuation also demonstrates how quickly investors are rewarding AI companies that show strong revenue growth. Lovable reached a $1.8 billion valuation in July 2025 before climbing to $6.6 billion later that year, illustrating the extraordinary pace at which investor expectations have increased around AI-powered software.

With $400 million in new funding and a $13.3 billion valuation, Lovable is now positioned to compete at the highest level of the AI software development market. Its next challenge will be turning its explosive growth into a durable business while proving that AI-assisted coding can become a fundamental part of how companies build and operate software.