Lovable AI App Platform Secures $15M Following Rapid Growth

# ai # Apps

Generative AI has been a game-changer in software development, but until recently, tools like Cursor and Copilot were mainly used by seasoned engineers. Enter Lovable, a Swedish AI startup that's shaking things up by letting anyone create apps with simple prompts. They made waves last year, hitting the front pages of Product Hunt and Hacker News, and now they've bagged $15 million in a pre-Series A round, with Creandum leading the charge. Lovable's big promise? Letting folks build what they call "production-ready software" without any coding know-how. From whipping up prototypes and websites to rolling out fully functional web apps with their GPT Engineer, they're making it happen. They're boasting 500,000 users who are churning out over 25,000 new products every day, and their financials are on the up and up. They're now pulling in $17 million in annual recurring revenue, thanks to 30,000 paying customers. With these stats, Lovable's one of the fastest-growing startups in Europe, and they did it all with just $2 million from a €6.8 million pre-seed round last October, led by Hummingbird Ventures and byFounders. Anton Osika, one of the founders, told TechCrunch that Lovable stands out from other AI-driven code-building platforms because it's "the best way to get something that actually works." They're using a mix of OpenAI, Google Gemini, and Anthropic to power their platform, which is cranking out software like nobody's business. Osika mentioned they've seen hundreds of commercial apps built on Lovable, with at least 25,000 apps popping up daily. Osika, who co-founded Lovable with Fabian Hedin, got the idea while working on Depict.ai in 2023. Depict, backed by YC, went on to raise $20 million from big names like Initialized Capital, EQT Ventures, and Northzone. It's all about using machine learning to boost e-commerce. Before Lovable, Osika worked at CERN and Sana Labs, while Hedin's resume includes designing the interface for Stephen Hawking's computer and teaming up with ex-SpaceX engineers on wheelchair tech. "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," Osika shared with TechCrunch. Lovable's next move? Expanding their integration with third-party services like Supabase for databases and GitHub for code storage. Fredrik Cassel from Creandum, who's backing Lovable, said, "I haven’t seen this level of user love for a product since we invested in Spotify." The funding round also saw investments from Visionaries Club and some big-name angels like Charlie Songhurst from Meta, Adam D’Angelo and Thomas Wolf from Hugging Face, and Eric Bernhardsson from Modal.

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