Hyped AI company worth 60 billion

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Hyped AI company worth 60 billion
Photo: Johan Carlberg/SVD/TT

The hyped AI company Lovable is raising an additional approximately SEK 3 billion in new capital and is thus valued at over SEK 60 billion, writes Dagens Industri.

That valuation makes Lovable Sweden's currently highest valued technology company outside the stock exchange, the newspaper writes.

In the previous financing round six months ago, the company was valued at approximately SEK 17 billion.

Lovable has reached annual revenues of SEK 1.9 billion in a relatively short time. The business idea is to offer people the ability to build websites and apps without knowing how to program.

Among the better-known investors are Nvidia and Google's holding company, but also Swedish investors such as EQT and Creandum.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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