The venture arms of Google and Nvidia just made a major bet on the future of software development. They've co-led a $330 million Series B round for Lovable, a Swedish AI-powered coding startup, valuing the two-year-old company at $6.6 billion. That's triple the valuation from just five months ago, signaling how aggressively capital is chasing the "vibe coding" wave - the idea that anyone, regardless of technical skills, can build software using text prompts.
The funding announcement, confirmed by CNBC on Thursday, caps what's become a banner year for AI coding tools. CapitalG, one of Google's venture divisions, and Menlo Ventures jointly led the round. But the real signal here is the breadth of the investor syndicate - this isn't just tech VCs piling in. Nvidia's venture arm joined alongside Accel, Khosla Ventures, Salesforce Ventures, Databricks Ventures, and even Gwyneth Paltrow's VC firm Kinship Ventures. That mix suggests Lovable has transcended the typical startup positioning and landed on something genuinely useful across enterprises.
The numbers back up the hype. According to CNBC's reporting, Lovable's platform claimed $200 million in annual recurring revenue (ARR) back in November. That's a staggering trajectory for a company founded in 2023 by Anton Osika and Fabian Hedin. The startup went from $1M ARR to nine figures in less than a year - a scale that typically takes years to achieve. For context, that velocity rivals some of the fastest-scaling AI companies we've seen.
What's powering this growth is straightforward but powerful: Lovable lets users build applications and websites using natural language prompts, no coding required. The platform taps into AI models from OpenAI and Anthropic to handle the heavy lifting. "Lovable has done something rare: built a product that enterprises and founders both love," CapitalG managing partner Laela Sturdy said in a statement accompanying the announcement. "The demand we're seeing from Fortune 500 companies signals a fundamental shift in how software gets built."
