Nocode Baroscope: $479 million raised in Q2 2022

At the end of Q2 2022, here's a new state of play for the Nocode market. Despite recent tech woes, the Nocode sector stands out with$479 million raised by innovative Nocode startups between April and June 2022. 

This quarter follows a record first quarter of more than $1.15 billion raised by various publishers.

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Focus on this quarter of fundraising: Nocode editors targeted by investors 

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In the second quarter of 2022, it is not the usual suspects of the Nocode, but leaders such as Airtable, Bubble.io or Figma that are on the forefront. Players and tools with innovative features have captured the attention of funds.

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🏆On the podium:

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Coherent: 75 million 

Storyblok: 47 million

Appsmith: $41 million

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Below is a detailed view of Nocode players, investment targets, month by month:

The diversity of functionalities in Nocode is rewarded

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The number of fundraisings in the second quarter of 2022 is more or less the same as in the first quarter, i.e. 21 fundraisings, compared to 24 at the beginning of the year. Indeed, even if we did not raise astronomical amounts of money, the diversity of solutions and functionalities available in Nocode has attracted capital. In the first quarter of 2022, larger sums were raised for mature solutions and tools - among them,$135M for Typeform, a Nocode tool for creating forms.

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Nocode investments by region

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This second quarter of 2022 is no exception, as 13 out of 21 Nocode startup fundraisings were from companies originating in the US.

However, we notice that new countries are emerging in the list of Nocode start-ups targeted by tech investors. This is the case of Austria, with the player Storyblok.
Storyblok has developed a "headless" CMS designed for both technical users and marketing teams that facilitates content creation, management and distribution.

France is not left behind with a cumulative total of 13.6 million collected by ncScale and Novel. Note that ncScale promises the development of a Nocode GitHub to help developers and Makers from all over the world to create new innovative and more accessible tools.

A Nocode market in full maturity

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Among the start-ups listed, the majority (81%) have completed Series A or B financing, compared to only seven seed-stage fundraisings.

New trends: AI, Nocode and Web3

AI tools are on the rise. Recently, OpenAI has shaken up the web with the release of the closed beta of DALL-E 2. An artificial intelligence that draws the images it is asked to make. The results are incredible and would suggest that a designer has done the work. After the Nocode, the Nodesigner?

On their side, investments in AI/Nocode startups continue to rise and multiply fundraising. This is notably the case for startups Baseten, Accern and Noogata, which have respectively raised 20 million for the first two and28 million for the last one.

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Baseten, offers an original approach to Nocode. You just have to provide your AI with data or design elements and the artificial intelligence will build a responsive UI interface for your webapp, website or app in HTML, CSS or React. A Nocode tool designed for coders?

Accern is an artificial intelligence capable of analyzing natural language (NLP ) or stocks of data to make decisions related to financial activities. The use cases are numerous. For example, it is possible to receive alerts on customer credit risk, anti-money laundering analytics or information on a company's ESG practices.

Finally, Noogata promises companies to leverage AI and machine learning (ML) to enable business decisions based on data automatically retrieved by artificial intelligence. This allows, for example, to measure the exposure of its products on Amazon search and other marketplaces or to identify and analyze consumer search trends. AI at the service of e-commerce.

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Despite the fall of bitcoin, which at the time of writing has dropped below $20,000, investors believe in the WEB 3 ecosystem, and as proof of this, a startup in the Nocode and WEB 3 market has made an appearance in the rankings.

Novel, a Nocode platform that allows retailers to create and distribute NFTs on Shopify along with their physical products. The platform, which is based on the Polygon protocol, allows users to seamlessly set up their NFT offerings and make them available for sale without having to worry about the technology aspects.

To summarize, the fundraising in Nocode observed this quarter reflects the favorable state of this tech market: a logic of micro-services in full maturity that seduces more and more markets around the world.  

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