The company is positioning itself as a direct competitor to Anthropic and SpaceX, two of the most heavily capitalized private companies on the planet. The numbers behind the rocket shipMenlo Ventures and the EU-backed Scaleup Europe Fund, managed by EQT, led the round. The company raised a $200 million Series A at a $1.8 billion valuation in mid-2025. Lovable, at $13.3 billion, is competing for the same pool of AI researchers, investor dollars, and narrative positioning as the defining technology companies of this era. The EU’s involvement through the Scaleup Europe Fund reflects European policymakers’ stated priority of not ceding the AI race entirely to American and Chinese companies.