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Enterprise AI Startup RapidCanvas Nets $29 Mn To Expand GTM Teams

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Enterprise AI Startup RapidCanvas Nets $29 Mn To Expand GTM Teams

Enterprise AI startup RapidCanvas has raised $29 Mn (about ₹280 Cr) in its Series B funding round led by Vertex Ventures SEA & India. The round also saw participation from new ventures Hitachi Ventures, along with existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures.

RapidCanvas will use the proceeds to expand its go-to-market teams and field AI engineering team across India, the US and Brazil. It will also invest in all three products — deepening the Enterprise Context Engine, expanding the skills library behind the Visual Development Canvas, and strengthening governance in the Operational Harness.

Founded in 2021 by Rahul Pangam and Uttam Phalnikar, RapidCanvas is an agentic AI startup that helps enterprises build and deploy AI applications as well as oversee their performance. 

RapidCanvas claims that its annual recurring revenue (ARR) has grown 8X over the past six quarters. 

So far, in 2026, more than 75 enterprises across manufacturing, financial services, retail, business services and infrastructure have made 1.4 Mn AI-led decisions using applications built on its platform.

RapidCanvas follows a subscription-based business model and targets large enterprises that have AI budgets but lack the in-house expertise to move beyond pilot projects. It claims that its platform is “trusted” by companies like PayPal, TresVista, Yale Appliances, Orion, Treetech, among others.

“Vibe coding has made it easy to start building with AI. Getting AI into production reliably and safely still remains the biggest gap. Our growth over the past six quarters is evidence that AI in enterprises is moving beyond pilots into production and real operations,” said cofounder and CEO Pangam.


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