Swedish startup Lovable, which specializes in "vibe-coding" technology, has seen its valuation soar to more than three times its previous level in just under half a year. The Stockholm-based company announced a $330 million Series B investment round on Thursday, led by CapitalG and Menlo Ventures, placing its valuation at $6.6 billion. Additional participants included Khosla Ventures, Salesforce Ventures, Databricks Ventures, and other investors.

This latest funding arrives only months after Lovable secured a $200 million Series A round in July, which valued the firm at $1.8 billion. Emerging as one of the fastest movers in the AI surge, Lovable has developed a vibe-coding platform that allows users to generate code and construct entire applications using text prompts. Founded in 2024, the company has experienced explosive growth, achieving $100 million in annual recurring revenue within eight months and then doubling that figure to exceed $200 million just four months later.

Notable customers include major software firms such as Klarna, Uber, and Zendesk. Lovable reports that over 100,000 new projects are launched on its platform daily, with more than 25 million projects created in its first year alone. The new capital will be directed toward developing deeper integrations with third-party applications, expanding enterprise-focused features, and enhancing the platform's infrastructure—including databases, payments, and hosting—to support full-scale application and service development.

At the Slush conference in Helsinki, Finland, co-founder and CEO Anton Osika highlighted the company's decision to remain in Sweden despite investor pressure to move to Silicon Valley. "It was tempting, but I really resisted that," Osika remarked during the November event. "I [can] sit here now and say, 'Look, guys, you can build a global AI company from this country.' There is more available talent if you have a strong mission, and you have a lot of urgency coming together as a group and working."

In November, Lovable faced scrutiny for not paying Value-Added Tax (VAT), which applies to most goods and services in the European Union. Osika acknowledged the issue in a LinkedIn post, confirming the company would address it, while also closing comments that cited such taxes as a reason the EU is challenging for high-growth startups.

Vibe-coding remains a highly active investment sector for venture capitalists. Another prominent player, Cursor, raised $2.5 billion in November at a $29.3 billion valuation. Similar to Lovable, this marked Cursor’s second funding round of the year, with its valuation doubling between June and November.