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Lovable Raises $400 Million At $13.3 Billion Valuation

European vibe-coding startup Lovable has raised $400 million in a Series C round, confirming earlier reports that the company was seeking a new funding round at a valuation of $13.3 billion.

Menlo Ventures and the Scaleup Europe Fund led the round, with more than a dozen additional investors participating. The new funding comes just eight months after Lovable raised $330 million at a $6.6 billion valuation.

Rapid Growth Drives New Funding

Lovable reached $500 million in annualised revenue in June, highlighting the rapid growth of its AI-powered software development platform. The company says its projects now number around 60 million and attract 900 million monthly visitors.

Alongside its growth in users, Lovable has expanded its technology infrastructure. The company has developed its own AI model while continuing to offer access to other leading models.

In June, Lovable also signed a multiyear agreement with Google Cloud that is expected to increase its usage of the platform fivefold.

Expanding Beyond Vibe Coding

Lovable has also begun investing in other European startups working on AI-powered development tools. Among them is Danish company Atech, which is developing software designed to bring vibe coding into hardware development.

With the latest funding, Lovable is now positioned to further expand its platform and infrastructure as demand for AI-assisted software development continues to grow.

Ring Makes New Encryption Standard Default For Cloud-Based Features

Amazon’s smart home division Ring is introducing a new encryption standard that will become the default for video protection and user controls, while allowing the company to offer more cloud-based features.

The standard, called TAKE, or “Throw Away the Key Encryption,” is designed to balance privacy with features that can be limited by end-to-end encryption, including video search, descriptions and access for trusted users.

Temporary Keys Support Cloud Features

Under TAKE, Ring uses rotating encryption keys that are temporarily stored in the cloud and accessible only when needed to provide features activated by users. Once a request is completed, the company says the relevant keys will be deleted within 24 hours.

The system allows Ring to temporarily decrypt and process videos for cloud services such as Smart Alerts, which can notify users when people, vehicles or packages appear in a camera’s view. The company said in a blog post that the encryption key is deleted after the feature has been used.

Amazon’s technical white paper says TAKE was developed using Messaging Layer Security, an open messaging standard created by the Internet Engineering Task Force.

Users Can Still Choose End-To-End Encryption

TAKE will begin rolling out to customers in September and will become the default worldwide. Ring users will still be able to manually select end-to-end encryption instead.

The new system also includes several options for recovering encryption keys. Users who lose access to their device can authenticate by standing near their Ring cameras, while passphrases, cloud backups, another approved device or passkeys can provide alternative recovery methods.

Ring said the approach is intended to preserve access to cloud features without requiring users to give up control of their video encryption keys.

Privacy Concerns Remain

The announcement comes after months of scrutiny over Ring’s use of facial recognition. Its Familiar Faces feature can identify people appearing in camera footage.

In June, a class-action lawsuit accused Amazon of storing images of people passing by Ring cameras without their consent. The introduction of TAKE therefore comes as Ring faces continued questions over how its cameras process and protect personal data.

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