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RapidCanvas Raises $29 Million to Expand Enterprise AI Platform
Oct 16, 2026
RapidCanvas raised $29 million in Series B funding to expand its sales and AI engineering teams across India, the US and Brazil.
RapidCanvas raised $29 million in a Series B round led by Vertex Ventures SEA & India, according to Inc42. Hitachi Ventures joined the round, alongside existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures.
The company will use the funding to expand its sales and field AI engineering teams across India, the US and Brazil. It will also invest in its Enterprise Context Engine, Visual Development Canvas skills library and Operational Harness governance tools.
Founded in 2021 by Rahul Pangam and Uttam Phalnikar, RapidCanvas provides software for building, deploying and monitoring enterprise AI applications. The company says its annual recurring revenue grew eightfold over the past six quarters, while more than 75 enterprises used applications built on its platform to make 1.4 million AI assisted decisions in 2026.
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