News Summary

Swedish startup Lovable, known for its innovative ‘vibe-coding’ technology, has raised $330 million in a Series B funding round, elevating its valuation to $6.6 billion. This substantial increase comes just five months after a Series A round valued the company at $1.8 billion. The funding round was led by CapitalG and Menlo Ventures, with participation from Khosla Ventures, Salesforce Ventures, and Databricks Ventures. Lovable’s vibe-coding tool enables users to write code and develop applications using text prompts, attracting major clients like Klarna, Uber, and Zendesk. The company plans to use the funds to enhance third-party integrations, expand enterprise features, and build necessary infrastructure. Despite pressures to relocate to Silicon Valley, Lovable has remained in Stockholm, with CEO Anton Osika emphasizing the potential to build a global AI company from Sweden. The startup has also faced scrutiny over VAT payments in the EU, which it is addressing.