![JMA – Ninja & Deep Jandu [Official MV] Kaptaan](https://i.ytimg.com/vi/-dsfIh319s0/maxresdefault.jpg "JMA – Ninja & Deep Jandu [Official MV] Kaptaan")
AI-managed services firm RapidCanvas, with a strong presence in India, has successfully raised USD 29 million in Series B funding, led by Vertex Ventures SEA and India, to fuel its global expansion and product innovation.
Key Points
- AI-managed services firm RapidCanvas secured USD 29 million (approximately Rs 275 crore) in Series B funding on Friday.
- The funding round was led by Vertex Ventures SEA and India, with Hitachi Ventures and existing investors also participating.
- This fresh financing takes RapidCanvas’s total funding to USD 52.5 million.
- RapidCanvas plans to use the funds to expand its go-to-market teams and network of private equity and advisory partners.
- The company will also grow its employee base in India and its field AI engineering team across India, the US and Brazil, alongside investing in product development.
AI-managed services firm RapidCanvas, which has the majority of its employees based in India, on Friday said it has raised USD 29 million or about Rs 275 crore in a funding round led by Vertex Ventures SEA and India.
Funding Details And Investors
The latest funding round also saw participation from Hitachi Ventures and existing investors, including Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures.
“RapidCanvas, the managed AI execution company pioneering the hybrid approach to deliver custom AI solutions at SaaS economics, has raised USD 29 million in Series B funding led by Vertex Ventures SEA & India,” the company said in a statement.
The fresh financing takes total funding in the company to USD 52.5 million.
Strategic Growth And Product Investment
“RapidCanvas will use the Series B funding to grow its go-to-market teams and expand its network of private equity and advisory partners, who bring managed AI execution to their portfolio companies and clients as a repeatable path to value,” the company said.
The company will use part of the fund to grow its employee base in India as well.
“It will also grow its field AI engineering team across India, the US and Brazil. The company will invest in all three products – deepening the enterprise context engine, expanding the skills library behind the visual development canvas, and strengthening governance in the operational harness,” the statement said.
Disclaimer: News content is sourced from the stated source. Headlines, summaries, section headers, and images are automatically generated or selected using AI/algorithms and may not always be fully accurate. Readers are advised to refer to the full article for complete context.
