RapidCanvas, a cutting-edge AI platform focused on business transformation, has raised $16 million in a Series A funding round led by Peak XV Partners. The round also included participation from Titanium Ventures, Accel, and Valley Capital Partners, pushing the company’s total funding to $23.5 million since its inception in 2021.
The newly secured capital will support RapidCanvas in expanding its reach and enhancing its AI-driven solutions, solidifying its position as a leader in the business transformation space. In a press release, the company highlighted its commitment to delivering impactful results through its innovative offerings.
“Our Reliable AI framework ensures all outputs are validated and explainable, empowering businesses to achieve impactful results within weeks,” said Rahul Pangam, CEO and co-founder of RapidCanvas.
The platform addresses a critical challenge in the AI adoption landscape: the shortage of technical talent. RapidCanvas deploys AI agents powered by Large Language Models (LLMs) to automate up to 75% of tasks traditionally performed by data scientists and engineers. These agents efficiently process vast amounts of data, enabling businesses to bypass traditional bottlenecks and accelerate AI deployment timelines.
Founded by Pangam and Uttam Phalnikar, RapidCanvas has already partnered with enterprises in sectors such as manufacturing and financial services. The company emerged from stealth mode in March 2024 after securing $7.5 million in seed funding led by Accel, with support from Valley Capital Partners.
With the latest funding, RapidCanvas is poised to redefine how businesses approach AI implementation, offering solutions that are both scalable and accessible to organizations worldwide.
