Sifted - Creandum loves Lovable

Good morning there,

Lovable, the Stockholm-based AI agents startup, is raising a fresh round of funding led by Creandum, the Swedish VC firm which has previously backed the likes of Spotify and Klarna. 

Our Europe editor Mimi Billing spotted a now-deleted blog post confirming Creandum's investment in the company, in which partner Fredrik Cassell described "waking up in the middle of the night" thinking about Lovable. 

The company is developing AI agents which enable users to create websites and apps without learning how to code. It joins a host of other European agentic AI startups to have emerged in recent months, which have scooped up billions of dollars in investment along the way. 

Elsewhere today…

• Fusion energy startup unveils ‘breakthrough’ with plans for commercial power plant
• Austrian VC firm Fund F closes €28m fund to back gender-diverse teams
• Is Wero an ‘existential threat’ to Europe’s payments startups?
• Why quantum computing startups are betting on AI: ‘The potential is enormous’
• What Germany’s new government means for defence startups
• Thoma Bravo seeks European software deals with €1.8bn fund 

— Martin Coulter, news editor

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💚 Swedish AI agent startup Lovable has raised an undisclosed funding round, led by European VC firm Creandum, Sifted can reveal.

💰 American private equity firm Thoma Bravo has closed a €1.8bn fund dedicated to target European software companies, with one partner describing the continent's companies as "better value" for money.

☢️ German startup Proxima Fusion claims to have made a “breakthrough” in nuclear fusion, unveiling what it says is the world’s first blueprint for a commercial power plant.

👩‍💼 Fund F closed its debut €28m fund — surpassing its initial target of €20m — to back early stage, gender-diverse teams with at least one female cofounder.

Stay two steps ahead of the European tech market

Need fast access to Europe’s most promising startups? Sifted Pro gives you unparalleled market intelligence and high-growth startup data, ensuring you spot the next rising star before your competitors.

💳 Europe’s payments startups have a new competitor in town. Wero is the new digital wallet enabling consumer P2P transfers in under ten seconds — and has been branded an “existential threat”  to European payment startups. 

🔫 The future of Germany’s defence spending is up in the air following the conservative party’s election win last weekend — but defence startups are cautiously optimistic. “I see a silver lining,” one founder told Sifted. 

🖥️ How can quantum computers make AI better and more efficient? This is a question that’s been on quantum founders’ — and their investors’ — minds. Dive into all things ‘quantum AI’ here.

Sifted Talks | Online. How to build a modern finance team? In a tough-to-raise environment, how are CFOs preparing their teams for the year ahead? Join this Sifted Talks on February 26 to find out. RSVP here.

Sifted Talks | Online. On March 12, Fintech reporter Tom Matsuda is bringing together panellists from Flo Health, Cherry Ventures and Navan to discuss the new CFO mindset —how to balance profit with growth. RSVP here.

Applications close this week — Sifted’s UK & Ireland Leaderboard

It’s the last chance for applications to feature on our UK & Ireland leaderboard — a ranking celebrating the region’s fastest-growing startups. Boost your credibility to set you apart from your competitors and access new investment opportunities.

Delft, the Netherlands-based Vivici, which develops animal-free protein made from precision fermentation, raised €32.5m in Series A funding. APG led the round on behalf of ABP and were joined by investors including InnovationQuarter, Dms-firmenich and Fonterra. 

London-based Clearscore, which provides credit score information and an online financial marketplace, raised £30m in debt funding from HSBC Innovation Banking. 

Oxford, UK-based Magdrive, which creates propulsion systems for satellites and spacecraft, raised $10.5m in seed funding. Redalphine led the round and were joined by investors including Balerion Space Ventures, Alumni Ventures, Founders Fund, Outside Ventures, 7percent Ventures and Entrepreneur First.

Barcelona, Spain-based Wallbox, a smart electric vehicle charging and energy management provider, raised $10m in funding through a private placement. Investors included Inversiones Financieras Perseo, S.L., Orilla Asset Management and Enric Asunción.

Pordenone, Italy-based Arsenale Bioyards, which has a platform that integrates bioreactors, AI-driven software and precision fermentation, raised $10m in funding. Planet A and ByFounders led the round and were joined by investors including CDP Ventures, Acquia Capital, Plug N Play and Grey Silo Ventures.

Groningen, the Netherlands-based Qt Sense, which uses quantum sensing to help provide diagnostics for diseases such as cancer and sepsis, raised €6m in funding. QDNL Participations gave equity funding and Interreg Europe provided grant funding.

Copenhagen-based Fuse Vectors, which is developing novel and scalable gene therapies, raised $5.2m in pre-seed funding. HCVC led the round.

Amsterdam-based Langwatch, which has developed a platform to monitor, assess and improve LLM-powered applications, raised €1m in pre-seed funding. Passion Capital led the round and was joined by investors including Volta Ventures and Antler.  

Cheshire, UK-based Monument Therapeutics, which develops products to treat serious diseases of the central nervous system like schizophrenia, raised £850k in funding. ACF Investors led the round and was joined by investors including Wren Capital and O2h Ventures.

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