Lovable Raises $7.5M to Revolutionize Coding with AI Tool, GPT Engineer, Attracts Thousands of Users
October 7, 2024Stockholm-based Lovable has successfully raised $7.5 million in a pre-seed funding round, aimed at enhancing its platform that enables anyone to create software.
The funding round was led by Hummingbird VC and byFounders VC, with participation from notable investors including Deepmind angel operators and prominent AI entrepreneurs.
The capital will be utilized to recruit top European talent, improve computing resources, and enhance data collection and refinement efforts.
Lovable has launched its beta product, GPT Engineer, which quickly attracted hundreds of paying users and achieved a perfect 5/5 rating on platforms like Product Hunt and Hacker News.
GPT Engineer is an AI coding tool that generates production-ready code in real-time, making it accessible for both beginners and experienced developers.
Firat Ileri, Partner at Hummingbird, emphasized the growing demand for software development and praised Lovable's approach as the only one that allows non-technical individuals to achieve results comparable to skilled developers.
Early users of GPT Engineer have successfully launched SaaS startups and created sophisticated applications, showcasing the tool's effectiveness.
The platform has garnered significant interest, with over 27,000 individuals on the waitlist and more than 52,000 GitHub stars for its open-source CLI version.
Co-founders Anton Osika and Fabian Hedin aim to address a skills gap in the $4.7 trillion software industry by making coding accessible to a broader audience.
Osika highlighted the goal of expanding coding capabilities beyond the current 1% of the population that can program, exemplified by users successfully launching their own startups.
Lovable employs multiple customized Large Language Models from OpenAI and Anthropic to autonomously create, debug, and maintain applications.
The tool utilizes these customized models to provide instant feedback to users, enhancing the coding experience.
Summary based on 2 sources
Get a daily email with more Startups stories
Sources
Tech.eu • Oct 7, 2024
Lovable raises $7.5M for GPT EngineerSilicon Canals • Oct 7, 2024
Sweden’s Lovable secures €6.8M; launches GPT Engineer