Enterprise AI startup RapidCanvas has raised $29 million (approximately ₹280 crore) in a Series B funding round led by Vertex Ventures SEA & India. The round also attracted new investor Hitachi Ventures, alongside existing backers Accel, Peak XV Partners, Valley Capital Partners, and Titanium Ventures.
RapidCanvas will use the fresh capital to expand its go-to-market teams and field AI engineering capabilities across India, the United States, and Brazil. Additionally, the company plans to invest across all three of its products by enhancing the Enterprise Context Engine, expanding the skills library powering the Visual Development Canvas and strengthening governance capabilities within the Operational Harness.
Founded in 2021 by Rahul Pangam and Uttam Phalnikar, RapidCanvas is an agentic AI startup that enables enterprises to build and deploy AI applications while monitoring and managing their performance.
The startup claims its annual recurring revenue (ARR) has increased eightfold over the past six quarters. Moreover, in 2026, more than 75 enterprises across manufacturing, financial services, retail, business services, and infrastructure have collectively made 1.4 million AI-led decisions using applications developed on its platform.
RapidCanvas operates on a subscription-based business model and targets large enterprises that have dedicated AI budgets but lack the in-house expertise required to scale beyond pilot projects. The company says its platform is trusted by organisations including PayPal, TresVista, Yale Appliances, Orion, and 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 co-founder and CEO Rahul Pangam.
RapidCanvas’ funding round comes amid growing investor interest in enterprise technology startups that help businesses integrate AI into their operations. Recently, enterprise AI startup Shamrock AI raised $5 million in a seed round led by Endiya Partners, with participation from Capria Ventures. Meanwhile, Parallel Loop secured $6.6 million in a seed round led by 3one4 Capital to help businesses integrate AI into existing systems and workflows.
However, investor sentiment indicates that capital is not flowing indiscriminately across the AI stack, as investors continue to assess opportunities based on their potential to deliver reliable, scalable enterprise applications.
