Lovable raises $400M Series C, hits $13.3B valuation in AI coding boom

European AI coding startup Lovable has raised $400 million in a Series C round led by Menlo Ventures and co-led by the EQT-managed Scaleup Europe Fund, valuing the company at $13.3 billion. The round also drew investors from Europe, Asia, Latin America and the United States, including Tencent, Balderton Capital, Carmignac, Kaszek Ventures, LTS Growth, World Innovation Lab and Regent. The deal roughly doubles Lovable’s valuation from its December financing and underscores the strong investor appetite for companies building AI tools that can generate software from plain-language prompts.