ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/rapidcanvas” target=”_blank”>RapidCanvas, a business-to-business (B2B) platform that uses artificial intelligence (AI) to automate tasks, has raised $16 million in a funding round led by venture capital firm ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/peak-xv-partners” target=”_blank”>Peak XV Partners. The round also saw participation from ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/titanium-ventures” target=”_blank”>Titanium Ventures along with existing investors rel=”dofollow” href=”https://economictimes.indiatimes.com/accel-ltd/stocks/companyid-8903.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>Accel and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/valley-capital-partners” target=”_blank”>Valley Capital Partners. The funds will be used for building its ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/ai-agents” target=”_blank”>AI agents, the company said in a statement.

“Our context-aware AI agents automate critical tasks like data preparation, transformation, and modelling, allowing business users to create tailored AI solutions using simple natural language prompts. With our expert-in-the-loop approach, we ensure human oversight at key decision points, validating outcomes and delivering real-world impact,” said Rahul Pangam, cofounder and chief executive, RapidCanvas.

Founded in 2021 by Pangam and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/uttam-phalnikar” target=”_blank”>Uttam Phalnikar, the company provides an end-to-end 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 partnered with companies across sectors like manufacturing, retail, real estate, and financial services including major partners such as Amazon Web Services (AWS), Google, Azure, and Snowflake.

According to the company, there are over 30 million software engineers and data scientists globally, earning nearly $1 trillion in salaries. RapidCanvas estimates that AI agents can handle 70% of these tasks, allowing professionals to focus on high-value work that drives business growth.

The company has raised a total of $59.5 million to date. data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://m.economictimes.com/tech/funding/auto-ai-platform-rapidcanvas-raises-7-5-million-in-funding-round-led-by-accel/articleshow/108466525.cms” data-type=”tilCustomLink” target=”_blank”> It last raised $7.5 million on March 13 in a funding round led by Accel, with participation from Valley Capital Partners.Commenting on the investment, Harshjit Sethi, MD at Peak XV Partners, said “There is a huge gap in data science expertise across organisations. It either makes them rely on external consultants or drop these projects altogether. RapidCanvas’ innovative approach of combining AI agents with subject matter experts helps organisations fill this gap and drive results in a scalable and efficient manner.”

ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/rapidcanvas” target=”_blank”>RapidCanvas, a business-to-business (B2B) platform that uses artificial intelligence (AI) to automate tasks, has raised $16 million in a funding round led by venture capital firm ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/peak-xv-partners” target=”_blank”>Peak XV Partners. The round also saw participation from ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/titanium-ventures” target=”_blank”>Titanium Ventures along with existing investors rel=”dofollow” href=”https://economictimes.indiatimes.com/accel-ltd/stocks/companyid-8903.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>Accel and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/valley-capital-partners” target=”_blank”>Valley Capital Partners. The funds will be used for building its ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/ai-agents” target=”_blank”>AI agents, the company said in a statement.

“Our context-aware AI agents automate critical tasks like data preparation, transformation, and modelling, allowing business users to create tailored AI solutions using simple natural language prompts. With our expert-in-the-loop approach, we ensure human oversight at key decision points, validating outcomes and delivering real-world impact,” said Rahul Pangam, cofounder and chief executive, RapidCanvas.

Founded in 2021 by Pangam and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/uttam-phalnikar” target=”_blank”>Uttam Phalnikar, the company provides an end-to-end 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 partnered with companies across sectors like manufacturing, retail, real estate, and financial services including major partners such as Amazon Web Services (AWS), Google, Azure, and Snowflake.

According to the company, there are over 30 million software engineers and data scientists globally, earning nearly $1 trillion in salaries. RapidCanvas estimates that AI agents can handle 70% of these tasks, allowing professionals to focus on high-value work that drives business growth.

The company has raised a total of $59.5 million to date. data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://m.economictimes.com/tech/funding/auto-ai-platform-rapidcanvas-raises-7-5-million-in-funding-round-led-by-accel/articleshow/108466525.cms” data-type=”tilCustomLink” target=”_blank”> It last raised $7.5 million on March 13 in a funding round led by Accel, with participation from Valley Capital Partners.Commenting on the investment, Harshjit Sethi, MD at Peak XV Partners, said “There is a huge gap in data science expertise across organisations. It either makes them rely on external consultants or drop these projects altogether. RapidCanvas’ innovative approach of combining AI agents with subject matter experts helps organisations fill this gap and drive results in a scalable and efficient manner.”