Swedish artificial intelligence company Lovable has reportedly achieved unicorn status after securing $200 million in Series A funding. The 2-year-old startup has raised the new round at $1.8 billion valuation. 

The funding round was led by Accel, with participation from several other investors including 20VC, byFounders, and Visionaries Club, among others, Bloomberg reported. 

The AI vibe coding startup Lovable specializes in democratizing app and website development through its AI-powered platform. The company's technology enables users to create digital applications using everyday language, eliminating the traditional barrier of requiring programming expertise.

The startup has reached $75 million in annual recurring revenue within just seven months and claims 2.3 million users, who are actively building applications on the platform.

The AI-powered coding sector has seen substantial investment activity. Recently, US-based Anysphere raised $900 million a $9.9 billion valuation.