Baroscope: Nocode raises 337.46 million in Q3 2022

The amount raised in the same quarter last year was higher but marked by 2 record-breaking raises of $250M and $100M respectively for Postman and Bubble. 

While Q3 2022 raises have smaller amounts, the quarter was very dynamic in terms of number of raises with 30 Nocode raises, versus 19 in Q3 2021, this is actually the highest number of Nocode raises of the year 2022.

In 2022, Nocode has already raised nearly $2 billion in funds. Will it exceed $4.7 billion in 2021?

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🗓 Three months of Q3 2022 raised $337.46 million

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🔢 July 2022 is off to a timid start in terms of amounts raised compared to the rest of the quarter. Indeed, only $50.7 million was raised by 11 Nocode startups.

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We note in particular the fundraising of the Germans from Soba, to the tune of 13.55 million dollars. Soba is a platform where anyone can create games for any device using Nocode tools. The platform aims to allow creators and influencers to create their own games.

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As well as Indian company Zbyte's $10 million fundraising led by private investors, Zebyt is a WEB3 solution to accelerate enterprise adoption of blockchain.

Also of note is Baserow, an open-source startup based in Amsterdam, the Netherlands and London, which is building a code-free collaborative database platform. Baserow has raised €5 million via a seed fund. Baserow enables non-technical teams to capture and organize data to generate intelligent business insights and automate processes.

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🏆 August saw the largest amounts raised this quarter. In fact, over $149 .9 million was raised by 8 Nocode startups.

Inworld IA is the winner with over $50 million raised in Series A.

This round is in addition to a large $20 million seed round announced in March, bringing the total amount raised by Inworld AI to $70 million.

Inworld AI's platform is designed to be accessible to non-coders. It is centered around a code-free studio that allows anyone to easily create AI-based characters. Users simply explain what they want their character to look like in natural language, and the Inworld AI engine does the rest.

Special mention to Savana, a Malvern-based provider of financial software for banks and fintech companies, which closed a $45 million Series A financing. The company intends to use the funds to continue to grow its digital delivery platform, which is compatible with its core business, to ramp up its marketing activities, and to accelerate the rollout of new features.

September has been the most important month in terms of number of startups funded.
We counted no less than 11 startups that successfully raised funds for a total of $136.86 million.

Tray.io, a Low code automation and integration company based in San Francisco, California, has raised $40 million in funding.

Signzy, a leader in digital banking infrastructure, announced Sept. 26 that it raised $26 million from Gaja Capital and its existing investors, Vertex Ventures and Arkam Ventures, in its latest round of funding. 

Noble , a Tel Aviv, Israel-based no-code platform that enables companies to create, launch and develop credit-based products and services, such as credit cards and BNPL, has raised $18 million in Series A funding.

🌏 In which countries are Nocode investments most significant?

Out of 30 fundraisings, 15 are from companies located in the United States, i.e. 50% of the transactions, and nearly 70% of the amounts raised.

🥈 After the United States, India is raising the most money for Nocode companies. Nearly $41.7 million has been raised by investors for 5 Indian Nocode startups.

🥉 Special mention to German companies, which are once again on the 3rd place of the podium by accumulating more than $28.3 million during Q2 2022. Overall European companies only raised 11.6% of the total amounts raised during the quarter, but this figure is growing compared to the previous quarter.

🌱 Q3 2022: Lots of startups funded.

The third quarter of 2022 was marked by numerous investments in start-ups, with a majority of Seed (16 rounds) and Series A (10 rounds for a total amount of $162M).

Series beyond A were few this quarter, with only 1 deal in Series C and 1 deal in Series F.