Tencent invests in Swedish AI programming company Lovable at a valuation of US$13.3 billion. On August 12, according to Bloomberg, Swedish AI programming startup Lovable completed a new round of financing at a valuation of US$13.3 billion, obtaining more funds to compete with Anthropic, Elon Musk’s Spac

Tencent invests in Swedish AI programming company Lovable with a valuation of US$13.3 billion. On August 12, according to Bloomberg, Swedish AI programming startup Lovable completed a new round of financing at a valuation of US$13.3 billion, gaining more funds to compete with larger rivals such as Anthropic and Elon Musk’s SpaceX. Programming company Lovable Lovable, headquartered in Stockholm, said on Wednesday it had completed a $400 million Series C round of financing led by Scaleup Europe Fund, an EU investment vehicle managed by U.S. venture capital firm Menlo Ventures and EQT AB. Several venture capital firms also participated in the round, along with new investors from Latin America and Asia, including Tencent Holdings Ltd. Lovable, founded in 2023, is one of the more well-known "atmosphere programming" startups. The company provides AI tools that allow people with no programming knowledge to create websites and apps. Programming automation has become one of the few generative AI capabilities that companies are willing to continue to invest in. Lovable said its products have been adopted by a number of corporate customers, including Adidas, Deutsche Telekom and media company Hearst. The startup completed a funding round eight months ago, raising $300 million at a $6.6 billion valuation. via cnBeta.COM - Chinese industry information website (author: Source: Phoenix Technology)