<ul data-eligibleForWebStory="false"><li>Lovable, a rapidly growing AI startup based in Europe, is in the process of raising over $150 million at a valuation close to $2 billion.</li><li>The company, founded in 2023, achieved $50 million in annual recurring revenue within six months of launching its web-app building product.</li><li>Lovable creates web apps from text prompts, offering an affordable service starting at $25 a month, and recently introduced an AI agent for automating tasks like code editing, with fees based on usage.</li><li>The new funding round, led by Accel with participation from Creandum and others, signals a shift from seed rounds to growth rounds for Lovable, aligning with the trend of AI startups adopting usage-based pricing models for AI services.</li></ul>

Lovable on track to raise $150M at $2B valuation

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