RapidCanvas raises $16 Mn led by Peak XV

RapidCanvas, an AI platform for business transformation, has raised $16 million in a Series A funding round led by Peak XV Partners.

The round also saw participation from Titanium Ventures, Accel, and Valley Capital Partners, bringing the company’s total funding to $23.5 million since its founding in 2021.

The funding will expand its reach and refine its innovative offerings, positioning the company as a leader in AI-driven business transformation, RapidCanvas said in a press release.

“Our Reliable AI framework ensures all outputs are validated and explainable, empowering businesses to achieve impactful results within weeks,” said Rahul Pangam, CEO of RapidCanvas.

As AI adoption grows, the shortage of technical talent has become a significant hurdle for businesses. RapidCanvas tackles this challenge with AI agents that can automate up to 75% of tasks traditionally handled by data scientists and engineers. Powered by Large Language Models (LLMs), these agents can process vast amounts of data with remarkable efficiency, helping enterprises bypass conventional limitations and speed up AI deployment.

Founded by Pangam and Uttam Phalnikar, RapidCanvas has already partnered with companies in sectors like manufacturing and financial services. The startup came out of stealth mode after $7.5 million in seed funding led by Accel, with participation from Valley Capital Partners, in March this year.