RapidCanvas Series B funding: USD 29 million led by Vertex Ventures SEA and India

RapidCanvas, an AI-managed services firm with most staff based in India, said it raised USD 29 million, or about Rs 275 crore. The Series B round was led by Vertex Ventures SEA and India, according to the company. RapidCanvas said the new capital lifted total funding to USD 52.5 million.

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The round also included Hitachi Ventures and existing backers Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures. RapidCanvas described itself as a managed AI execution company using a hybrid model for custom AI work. The firm said it aims to deliver these solutions with SaaS-style economics.

RapidCanvas Series B funding and investor participation

RapidCanvas said the Series B funding would support expansion of its go-to-market teams. The company also plans to widen its network of private equity and advisory partners. RapidCanvas said these partners help take managed AI execution to portfolio firms and clients.

RapidCanvas Series B funding use for India hiring and team expansion

The company said part of the money would be used to increase its employee base in India. RapidCanvas also plans to expand its field AI engineering team in India, the US and Brazil. The statement did not share a timeline for the planned hiring and team growth.

RapidCanvas Series B funding plan for product investment

RapidCanvas said it would invest across three products. It plans to deepen the enterprise context engine and expand the skills library behind the visual development canvas. The company also said it would strengthen governance within the operational harness as part of this work.

With inputs from PTI