RapidCanvas Raises $16 Million in Series A
RapidCanvas, an Austin, Texas-based AI startup, has raised $16 million in Series A funding, bringing its total funding to over $23.5 million.
The round was led by Peak XV, with additional participation from Titanium Ventures and existing investors Accel and Valley Capital Partners.
Peak XV Partners is a venture capital firm investing across India, Southeast Asia, and beyond. Over the last 18 years of operations in the region, Peak XV has grown to manage approximately USD 9 billion in capital across 13 funds and invested in over 400 companies. The portfolio has seen 23 IPOs and multiple successful M&As, resulting in over USD 10 billion in realized and unrealized gains so far.
The company will use the funding to scale its AI agents.
Founded in 2021 by Rahul Pangam and Uttam Phalnikar, RapidCanvas provides an AI platform that combines the precision and automation of AI agents with the deep domain knowledge of human experts to deliver reliable and measurable business outcomes. Its technology uses AI agents powered by Large Language Models (LLMs) to process large volumes of information, identify patterns, and make decisions.
Funding Details
Company: RapidCanvas, Inc.
Raised: $16.0M
Round: Series A
Funding Date: December 2024
Lead Investor: Peak XV
Additional Investors: Titanium Ventures, Accel, Valley Capital Partners
Company Website: https://www.rapidcanvas.ai/
Software Category: Business Automation