The European Union-backed €5bn Scaleup Europe Fund, managed by EQT, has invested in a $400m Series C fundraising round by Swedish AI coding company Lovable, valuing the fast-growing ‘vibe coding’ startup at $13.3bn, according to a report by Bloomberg.
The round was led by Menlo Ventures, while a number of existing venture investors also participated alongside new backers from Asia and Latin America, including Tencent.
The funding more than doubles Lovable’s valuation from the $6.6bn level it rea...
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