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News of the day
1. Swedish AI startup Lovable raises $400M in Series C, doubling valuation to $13.3B. Funding fuels expansion and product development. → Read more
2. OpenAI introduces a new ChatGPT version specifically designed for teenagers aged 13 to 17, offering a tailored experience.→ Read more
3. Anthropic's Claude Code now features a /design command, enabling developers to generate UI mockups directly within the terminal, matching existing codebase styles.→ Read more
4. Nous Research launches Bot Mode for Hermes Agent, transforming single-agent sessions into a roster of named, independent bots with unique profiles and communication capabilities.→ Read more
Our take
Hi Dotikers!
Four hundred million dollars for Lovable, and a valuation jumping from 6.6 to 13.3 billion in eight months. Menlo Ventures leads, EQT follows through the Scaleup Europe Fund, with Tencent, Balderton, Carmignac and Accel around the table. The Swedish company claims 60 million projects created, 900 million monthly visits to the apps it generates, and an ARR closing in on 600 million. For a company officially launched in November 2024, that is dizzying.
Still, it is worth asking what that number actually measures. ARR on a product built on frontier models is gross revenue sitting on top of an inference bill that does not annualise politely. Lovable has just signed a multiyear deal with Google Cloud involving a fivefold increase in usage. Nobody is publishing six month retention, or margin per user. And in vibe coding, the Saturday night prototype is the easy part. Shipping to production is not. Some of those 60 million projects are applications that run. The rest are mockups abandoned by the following Tuesday.
That said, the trajectory is real and Anton Osika's bet makes sense: move beyond app creation to cover the full lifecycle, and go after Adidas, Nvidia and Deutsche Telekom. That is where revenue gets sticky. If Lovable pulls off that turn, the valuation holds up. If not, we will have funded the most beautiful demo tool of the decade.
A word on yesterday, since the question of power in AI was already stirring things up with Dario Amodei's comments. While everyone argues about who should regulate whom, a European company less than two years old just raised 400 million reselling somebody else's intelligence. Concentration is not only playing out at the lab level. It is also playing out among those who depend on them.
Aym.
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