RapidCanvas, a managed AI execution company, has raised $29 million in a Series B funding round led by Vertex Ventures SEA & India, according to an announcement on Friday.
The funding also saw participation from Hitachi Ventures and existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures, the company said in a statement.
The latest funding takes the company’s total capital raised to $52.5 million.
RapidCanvas will use the Series B proceeds to grow its go-to-market teams and expand its network of private equity and advisory partners, which help bring its managed AI services to portfolio companies and clients. The company also plans to expand its field AI engineering team across India, the US and Brazil.
It will also invest in developing its three core products: deepening the Enterprise Context Engine, expanding the skills library powering its Visual Development Canvas, and strengthening governance capabilities in its Operational Harness.
“AI can be the great equaliser, but so far its biggest wins have gone to the Fortune 100. We want to give every enterprise the same opportunity,” said Rahul Pangam, co-founder and CEO of RapidCanvas. “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.”
RapidCanvas is a managed AI execution company that helps organisations develop, deploy and scale AI solutions by combining human expertise with an agentic AI platform. The company serves clients across manufacturing, retail and consumer goods, financial services, business services, supply chain and infrastructure.
The company claimed that its annual recurring revenue grew eightfold over the past six quarters, driven by rising enterprise demand for custom AI solutions in production. It added that more than 40% of its customers now run multiple AI use cases in production.
