In the second quarter of 2023, funds raised by Nocode start-ups rose again, boosted by Builder.ai's $250M round.

The overall amount raised by Nocode start-ups more than doubled this quarter, from $158M in Q1 2023 to $362.6M in Q2.
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Unsurprisingly, companies offering Nocode solutions, combined with advances in artificial intelligence, dominated the fundraising landscape during this period.

While Europe succeeded in attracting capital this quarter, France - which led the way in investments in the first quarter - is absent from the ranking.
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The best-known Nocode platforms did not raise any funds this quarter, while many young structures were able to finance themselves via seed rounds. 

2nd quarter 2023 raises $362.6 million

April 2023 was the weakest month in terms of the amount of funds raised compared with the rest of the quarter, with a total of $14.5M raised by just three start-ups.
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These include the $8M fund-raising of American seed company AiXplain. AiXplain is a solution for developing AI solutions in Nocode, giving access to ready-to-use AI components, accessible to all. This fundraising is aimed at developing the solution's functionalities, in particular features for optimizing user models.
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In April, Swedish start-up Bits Technology also raised 4 million euros. Bits Technology is a Nocode platform that enables customers to easily create dynamic onboarding workflows, eliminating the hassle of local compliance and integrating new service providers. It also offers a personalized onboarding experience and customer reporting solution for risk management, fraud prevention and compliance.
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Finally, US start-up Apptile has raised $2.5 million for its Nocode platform, enabling Shopify companies to create fully customizable mobile applications.

May saw the highest amounts raised this quarter, with almost $300M raised. This sum was raised by 7 companies and largely dominated by Builder.ai's record-breaking $250M raise.
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London-based Builder.ai announces a Series D funding round of over $250 million, bringing the company's total raised to over $450 million. Builder.ai is an AI-powered Nocode platform that aims to make software creation accessible to everyone, using human conversation as the primary user interface.
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The second biggest fundraising of the half-year is also a solution blending AI and Nocode: it's Hyro, a US company announcing a $20 million Series B funding round. Thanks to this capitalization, Hyro will continue its expansion in the healthcare sector, responding to the growing demand for conversational AI and automation.
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London-based startup Sticky has successfully raised 17 million euros in May 2023 in seed funding. Using NFC stickers, dubbed "stickies", and their Nocode operating system, Sticky enables businesses to simplify interactions and payments, increasing efficiency, revenue and customer satisfaction.

June 2023 remains a good month in terms of amounts raised given the year's trend, with nearly $54M raised by 4 start-ups.
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In June, AI once again came to the fore, with Tokyo-based startup Flux raising an impressive $32 million in Series B funding. This capitalization will enable Flux to further develop its code-free AI platform, Flux AI, to offer businesses in Japan an efficient and affordable solution for integrating AI technologies such as predictive analytics and natural language processing, even without prior programming skills.

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🌏 In which countries are Nocode investments most significant?

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Of the 14 fundraisings recorded in Q2 2023, 6 came from US-based companies, representing 43% of the total number of deals but only 12% of the total amount raised. The amounts raised and the number of fundraisings by US companies in the Nocode remain relatively stable compared to the previous quarter.

The United Kingdom topped the podium this quarter, with almost 75% of amounts raised, thanks to 2 financing operations: Builder.ai for $250M and Sticky for €17M raised.
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Japan comes third on the podium with Flux raising $32M.
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France, meanwhile, is absent from this quarter's rankings after topping the previous quarter's financings thanks to Pasqal's raising of $100M.
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The other countries that raised funds were all in Europe or Isreal, with the Czech Republic, Austria, Spain and Sweden each raising one fund, together accounting for more than 5% of the total amount raised this quarter. 

🌱 Q2 2023: Still a majority of start-ups financed

In the second quarter of 2023, a major investment was made in a solution blending Nocode and AI, with a $250M Series D fundraising round for Builder.ai.
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Fundraising for young projects was even more dynamic than in the previous quarter, with 10 projects financed in seed and one in pre-seed. The number of new emerging solutions being financed continues to climb.

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🤖Nocode and AI dominate 2nd quarter 2023 financings 

Nocode companies integrating AI were the most able to raise funds this quarter, garnering almost 90% of funds raised and 36% of companies financed.
In second place on the podium we find a solution mixing Blockhain and Nocode.
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Interestingly, large Nocode solutions that are reaching a certain maturity did not raise funds this quarter.