Two artificial intelligence coding startups have captured investor attention with dramatic valuation increases, according to reports confirmed on Wednesday. Lovable, a European vibe-coding platform, announced a $400 million Series C round at a $13.3 billion valuation, more than double its $6.6 billion valuation from December. The round was led by Menlo Ventures and the Scaleup Europe Fund, with participation from more than a dozen other investors, including Regent, the investment firm that also owns Bitcoin World.
Lovable reported reaching $500 million in annualized run rate revenue in June, a milestone that likely boosted investor confidence. The company now says it hosts 60 million projects and attracts 900 million monthly visitors. It has also expanded its backend infrastructure, developing an in-house trained AI model alongside frontier model providers. In June, Lovable signed a multiyear deal with Google Cloud representing a fivefold increase in usage, and it has begun investing in other European startups such as Danish firm Atech, which develops vibe-coding software for hardware design.
Separately, Cognition, the AI coding startup behind the agent Devin, is reportedly in early talks to raise new funding at a $40 billion valuation, according to Bloomberg sources. That would mark a sharp jump from its May round of $1 billion at a $26 billion valuation. The reported valuation is tied to Cognition reaching a $1 billion annualized revenue run rate, up from $492 million in May. The company counts Mercedes-Benz, NASA, and Goldman Sachs among its customers, with enterprise usage of Devin growing 50% month-over-month for six consecutive months.
Although neither Lovable nor Cognition is a cryptocurrency company, the surge in AI infrastructure investment may carry indirect implications for the broader tech and digital asset landscape. Some crypto projects are exploring AI integrations, and increased enterprise adoption of AI coding tools could accelerate software development across blockchain and Web3 applications. For now, the direct impact on crypto prices and ecosystems remains limited.
