Tencent Joins $400 Million Fundraising For Swedish AI Coding Startup Lovable

MT Newswires Live08:07

Tencent (HKG:0700) has participated in the $400 million Series C fundraising for Swedish AI coding startup Lovable, according to a press release from the latter on Wednesday.

The Chinese tech company joined other multinational investors including Balderton Capital, Kaszek Ventures, and Salesforce Ventures in the round.

The Series C funding valued Lovable at $13.3 billion and was led by Menlo Ventures and co-led by the Scaleup Europe Fund, managed by EQT.

The platform has recorded 60 million projects created since its November 2024 launch and currently hosts over 900 million monthly active visits to applications built on its infrastructure.

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