Vibe-coding darling Lovable has just raised $400 million at a valuation of $13.3 billion, roughly doubling its worth in eight months. But Lovable isn’t alone; legal AI company Legora and health tech startup Neko Health have also seen huge success.

On the latest episode of TechCrunch’s Equity podcast, Dominic-Madori Davis talks to Sophia Bendz, a partner at Cherry Ventures, about what’s driving this growth in Sweden's ecosystem. They discuss factors like the social safety net and influx of US capital.

Their analysis suggests that Sweden might be leading a new wave of tech success stories, which could have implications for other regions looking to foster their own startup ecosystems.