VC Fund Investments
AI-focused B2B automation platform RapidCanvas raises $16-M led by Peak XV
Texas (US)-based RapidCanvas , a business-to-business (B2B) platform that uses artificial intelligence (AI) to automate tasks, has raised USD 16 million in a funding round led by Peak XV Partners. The round also saw participation from Titanium Ventures as well as existing investors Accel and Valley Capital Partners. The funds will be used for building its AI agents.Founded in 2021 by Rahul Pangam and Uttam Phalnikar, the company provides a platform that helps business leaders and domain experts prototype, create, evolve, and explain their own AI solutions. Users can develop tailored AI solutions independently without the need for data engineering or developer support. The company has raised a total of USD 59.5 million to date. The firm last raised USD 7.5 million on March 13 in a funding round led by Accel, with participation from Valley Capital Partners.
In Mar 2024, RapidCanvas had raised about USD 8 M from Accel Partners, with participation from Valley Capital Partners.For FY24, RapidCanvas had reported about INR 12.87 Cr in Operating Income and about INR 1.32 Cr in PAT.
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