Swedish AI programming startup Lovable completes $400 million Series C funding round, valuation reaches $13.3 billion

According to Bloomberg, Stockholm, Sweden-based AI programming startup Lovable announced the completion of a $400 million Series C funding round, reaching a post-money valuation of $13.3 billion. The round was co-led by Menlo Ventures and the EU-backed investment firm Scaleup Europe Fund (managed by EQT AB), with participation from multiple venture capital firms. New investors from Latin America and Asia, including Tencent Holdings, also participated. Lovable is dedicated to the AI-assisted programming field and is accelerating expansion to compete with larger-scale competitors such as Anthropic.