AI-driven transformation platform RapidCanvas has successfully raised $16 million in its Series A funding round, spearheaded by Peak XV Partners.
This latest funding milestone brings the company’s total capital raised to $23.5 million since its establishment in 2021, underscoring its rapid growth trajectory and strong investor confidence.
In addition to Peak XV Partners, the round saw participation from key investors such as Titanium Ventures, Accel, and Valley Capital Partners. The funds will be utilized to expand the company’s global footprint and enhance its cutting-edge solutions aimed at redefining business transformation through AI.
RapidCanvas is carving out a niche in the competitive AI market by offering a Reliable AI framework that prioritizes validated and explainable outputs. “Our platform enables businesses to achieve measurable results in a matter of weeks,” said Rahul Pangam, co-founder and CEO.
The startup’s innovative approach addresses a pressing challenge faced by enterprises worldwide—a shortage of skilled technical talent. By leveraging Large Language Models (LLMs), RapidCanvas deploys AI agents capable of automating up to 75% of tasks traditionally performed by data scientists and engineers. This breakthrough significantly accelerates AI adoption while reducing operational bottlenecks.
Founded by Pangam and Uttam Phalnikar, RapidCanvas has already forged alliances with leading companies in industries such as manufacturing and financial services. The startup’s solutions empower these enterprises to leverage data more effectively, optimize workflows, and unlock new opportunities for growth.
RapidCanvas emerged from stealth mode earlier this year following a $7.5 million seed round led by Accel, with Valley Capital Partners also participating. Since then, the company has rapidly scaled its operations, positioning itself as a key enabler of AI-powered business transformation.
With the new funding, RapidCanvas plans to further refine its technology offerings, bringing innovative and scalable AI solutions to a broader audience. The company’s focus on delivering explainable, reliable AI ensures it is well-positioned to meet the evolving needs of businesses worldwide.
As AI adoption continues to surge, RapidCanvas is set to play a pivotal role in helping enterprises harness the transformative potential of artificial intelligence, driving efficiency and innovation across industries.
