In a significant development for the tech landscape, Stockholm-based Lovable has successfully closed a pre-seed funding round of approximately €6.83 million ($7.5 million). The funding round was spearheaded by Hummingbird and byFounders, alongside notable investors from the AI sector, including Deepmind angel operators, Shopify’s Siavash Ghorbani, Voi’s Fredrik Hjelm, and Creandum co-founder Stefan Lindeberg.
Firat Ileri, a Partner at Hummingbird, highlighted the critical timing of Lovable’s entry into the market, stating that the demand for software development is currently outpacing the available talent pool. He noted that web applications represent 80% of the software we engage with today, yet only a small fraction of individuals possess the skills to create them. While several companies are developing AI coding assistants for professional software engineers, Lovable’s innovative product, GPT Engineer, stands out as it enables non-technical users to achieve similar outcomes.
Introducing GPT Engineer
Lovable’s flagship tool, GPT Engineer, is an AI-driven coding assistant that generates production-ready code in real-time, allowing users to build functional web applications quickly. What sets GPT Engineer apart from other AI solutions is its capacity to provide immediate feedback, making it a valuable resource for both novice and experienced developers.
The tool leverages customized Large Language Models from providers like OpenAI and Anthropic, integrating advanced reasoning and vision capabilities. GPT Engineer autonomously handles tasks such as code creation, debugging, and maintaining application integrity, while also understanding user intent and soliciting input for complex projects when necessary.
Utilization of Funds
The newly acquired funding will be instrumental in helping Lovable recruit top European talent, including International Olympiad in Informatics gold medalists and seasoned professionals from leading tech companies. Additionally, the funds will be allocated toward enhancing computing resources and refining data collection processes.
Co-founder Anton Osika expressed Lovable’s mission to broaden the coding capabilities of the population, aiming to make software development accessible to a wider audience. He noted that early adopters of GPT Engineer have already made significant strides: one user has launched the initial version of a SaaS startup, while another has decided to pursue entrepreneurial ventures full-time after creating an advanced application.
“Users have found immense value in GPT Engineer, likening it to having an expert developer guiding them through the process. It empowers them to launch startups within a week, design appealing user interfaces effortlessly, and seamlessly integrate back-end systems,” Osika explained. “Our users frequently share their amazement at how quickly they can transform ideas into functional applications, regardless of their prior coding experience.”
Osika added that this funding would propel Lovable towards a future where they can tackle large-scale software development, allowing users to concentrate on creativity and enjoy the process of building.
About Lovable
Lovable is on a mission to create autonomous software engineers powered by Large Multimodal Models, enabling anyone to independently create, deploy, and refine software. Founded by Anton Osika and Fabian Hedin, Lovable seeks to democratize access to advanced product development capabilities that are typically exclusive to leading tech firms.
Osika, who co-founded the Stockholm AI community and Depict.ai, brings a wealth of AI expertise, while Hedin has an impressive background in technology projects, including Stephen Hawking’s computer interface. Lovable’s platform has already garnered considerable interest, boasting over 27,000 individuals on its waitlist and achieving 52,000 GitHub stars for its open-source Command Line Interface (CLI) version.
With this latest funding, Lovable is poised to make significant strides in reshaping the software development landscape, empowering individuals to bring their ideas to life with unprecedented ease.