(Bloomberg) -- Swedish coding startup Lovable has raised funding at a $13.3 billion valuation, bringing in fresh capital to compete with larger rivals like Anthropic and Elon Musk's SpaceX. Anthropic's Claude Code, an AI coding assistant, has exploded in popularity, forcing rivals like OpenAI and Google to offer similar features. Cognition AI Inc., which makes an AI coding agent, is in discussions to raise funding at a valuation of $40 billion, Bloomberg News reported this week. The startup previously raised money eight months ago, with $300 million in financing for a $6.6 billion valuation. Its new financing is one of the first disclosed investments from the EU's €5 billion ($5.8 billion) startup fund.