Lovable has raised $400 million at a $13.3 billion valuation, more than doubling its value in eight months as investors place another large bet on software built through natural-language prompts.

The Stockholm-based company is nearing a $600 million annual revenue run rate and plans to expand its workforce by 50% to about 450 employees this year. Its customer list now includes Nvidia, Adidas, Hearst, and Zendesk, giving Lovable a larger foothold inside companies where AI-built applications can move quickly from experiments to everyday business tools.

Lovable’s $13.3B valuation backs a broader software bet

The new $400 million funding round was co-led by Menlo Ventures and Scaleup Europe Fund, an EU-backed investment vehicle overseen by EQT. Balderton Capital, World Innovation Lab, and Tencent also participated.

It follows Lovable’s $330 million Series B in December, when the company was valued at $6.6 billion. Lovable’s valuation has therefore more than doubled while its revenue run rate has nearly tripled from the level reported at the end of last year.

Lovable is part of the broader vibe-coding market, which lets people create applications by describing what they want rather than writing the code themselves. Its platform can generate front ends, back ends, databases, authentication, and integrations, with generated code available for review or export to GitHub.

That model is increasingly moving into established companies. Nvidia, for example, uses Lovable to create customized software that helps team leaders track projects and delivery. Lovable also markets the platform for internal tools and production applications built by product managers, designers, marketers, and other employees alongside engineering teams.

Investor interest extends beyond Lovable. Replit was valued at $9 billion in March, while SpaceX agreed to acquire Cursor parent Anysphere for $60 billion in June.

More builders mean more software for IT to govern

Giving employees outside engineering the ability to create working applications can remove development bottlenecks, but it also expands the amount of software an organization has to track.

Lovable’s enterprise offering reflects that shift. The company provides SSO and SAML authentication, role-based access controls, SCIM provisioning, audit logs, GitHub integration, and controls for managing applications across shared workspaces.

Its Workspace Insights tool gives enterprise administrators an inventory of projects and externally published apps, along with information about owners, personally identifiable information, security findings, publishing status, authentication providers, database tables, and row-level security settings.

Lovable says enterprise workspaces can grow to thousands of projects. At that scale, an AI app builder becomes another part of the organization’s software estate rather than an isolated productivity tool.

IT teams adopting platforms such as Lovable therefore need policies for who can build and publish applications, which company data those apps can access, how generated code enters existing development workflows, and who remains responsible for maintaining an application after it is deployed.

Lovable’s $13.3 billion valuation is ultimately a bet that far more employees will build software themselves. If that bet pays off, IT departments will be managing not only AI coding tools, but a rapidly growing inventory of software those tools create.

Also read: A high-severity Cursor Git vulnerability demonstrated how flaws in AI coding environments can reach the development systems around them.

Well over half a million Grubhub drivers and customers are set to receive a share of $23.8 million following allegations that the food delivery company misled workers about their potential earnings and engaged in other deceptive practices.

The Federal Trade Commission (FTC) announced on Wednesday that it’s distributing the money to 640,038 consumers, with most recipients receiving a check in the mail. Some will receive their payments through PayPal.

The payouts stem from a lawsuit the FTC and Illinois Attorney General filed against Grubhub in December 2024. The complaint accused the company of a range of unlawful practices, including making misleading claims about how much drivers could earn, restricting customers’ access to their accounts and money, and listing restaurants on its platform without their permission.

Another allegation involved Grubhub’s restaurant listings. According to the complaint, the company had as many as 325,000 restaurants on its platform that were not affiliated with Grubhub. The FTC alleged that Grubhub used those listings to make its platform appear larger.

The complaint also alleged that Grubhub sometimes refused to remove restaurants after they asked to be taken off the platform. Instead, the company allegedly tried to convince some of those businesses to enter into paid partnerships.

The settlement required Grubhub to change how it operates in several areas. For instance, the company must be more accurate when advertising potential driver earnings, give customers a way to challenge account restrictions that leave them unable to access their accounts or funds, and obtain a restaurant’s consent before listing it on the platform.

Today’s announcement puts renewed attention on Grubhub’s treatment of its drivers and diners and the company’s broader business practices. Notably, it comes just one month after a federal judge granted final approval of another settlement worth nearly $25 million and involving approximately 60,000 Grubhub delivery drivers in California.

Grubhub also isn’t the only delivery company to face scrutiny. In the past, DoorDash has faced criticism and legal challenges over driver compensation, while Uber Eats has dealt with allegations involving customer charges and its relationships with restaurants.

South Korea has unveiled a seven-part technology strategy spanning nuclear energy, quantum computing, space, biotechnology, renewable energy, and critical minerals as President Lee Jae Myung looks beyond semiconductors and AI for the country’s next growth engines.

The Seven Major SEED initiative sets deadlines extending into 2035, including a Moon landing in 2030, a domestic 100-qubit error-correcting quantum computer by 2029, commercial deployment of a homegrown small modular reactor by 2035, and brain-computer interface products by 2035. The government also plans a public-private task force to accelerate commercialization and regulatory reform.

Seven Major SEED puts long-term tech markets on a timetable

The strategy covers small modular reactors, fusion energy, next-generation renewable energy, quantum technology, space and aviation, advanced biotechnology, and critical minerals and materials supply chains.

In nuclear energy, South Korea aims to commercialize a domestically developed small modular reactor by 2035 and begin construction of non-light-water SMRs during the 2030s. Fusion-based electricity generation is targeted for the late 2030s, while renewable-energy work includes ultra-efficient solar cells, offshore wind technology, hydrogen production, and AI-based power-grid systems.

Quantum computing carries one of the earliest deadlines. South Korea plans to develop a 100-qubit error-correcting quantum computer by 2029 and target global leadership in quantum-chip manufacturing by 2035.

The space program includes a Moon landing in 2030, a second lunar lander mission in 2032, and an independent low-Earth-orbit satellite communications network by 2035. KASA said in July that the 2030 mission would use a privately developed small lunar lander aboard the three-stage Nuri rocket.

Biotechnology targets include AI-bio infrastructure by 2030 and brain-computer interface products by 2035, alongside AI-driven drug discovery, autonomous laboratories, and advanced gene and cell therapies.

For technology companies across APAC, those deadlines identify areas where South Korean research funding, regulatory work, and public-private partnerships are likely to concentrate. Suppliers in quantum hardware, advanced materials, grid technology, aerospace, biotech tools, and nuclear systems could gain new opportunities as projects move toward commercialization.

Critical minerals connect the strategy to current supply-chain pressure

Seoul plans to expand domestic processing and recycling of critical minerals, increase strategic stockpiles, diversify sourcing, and invest 10 trillion won in materials, parts, and equipment technologies by 2030.

That direction extends existing efforts to strengthen domestic technology supply chains. South Korea recently introduced a $3.5 billion semiconductor fund for chip suppliers and fabless companies, while a separate sovereign investment initiative is targeting AI, data centers, chips, and other strategic industries.

Seven Major SEED pushes that industrial-policy approach into sectors where South Korea does not yet hold the kind of global position it has in memory chips. A domestic LEO network could create new communications infrastructure, quantum-chip investment could expand the regional hardware ecosystem, and critical-mineral processing could give manufacturers additional sourcing options.

The dates also create measurable tests. A 100-qubit system is due in 2029, the first lunar landing and AI-bio infrastructure are targeted for 2030, and several commercialization goals land in 2035. Progress would translate the strategy into new vendors, infrastructure, and supply relationships; delays would expose where technical or funding constraints are slowing the plan.

South Korea is using the current semiconductor and AI boom to build a wider technology portfolio. If the program advances on schedule, companies across APAC could encounter new Korean suppliers and partners in sectors ranging from quantum hardware and communications to energy, biotech, and critical materials.

Also read: SK hynix’s latest memory expansion adds tens of billions of dollars in new chip capacity as AI demand continues to strain global memory supply.