Vertex Ventures Leads $29m Series B Round in AI Startup RapidCanvas

Vertex Ventures Southeast Asia & India has led a $29 million Series B funding round in RapidCanvas, an enterprise artificial intelligence startup seeking to help businesses deploy AI applications at scale.

The round also included Hitachi Ventures, alongside existing investors Accel, Peak XV Partners, Valley Capital Partners, and Titanium Ventures.

The financing brings RapidCanvas’ total funding to $52.5 million.

RapidCanvas said its annual recurring revenue grew eightfold over the past six quarters as companies increasingly sought to move AI projects beyond pilot stages into production.

More than 40% of its customers now operate multiple AI applications in production.

In 2026, more than 75 enterprises across manufacturing, financial services, retail, business services, and infrastructure have made 1.4 million AI-driven decisions using applications developed on the platform, the company said.

RapidCanvas said it combines software with field AI engineers who work with customers to develop customised applications, oversee deployment, and remain accountable for outcomes.

Its platform includes tools for capturing business processes and institutional knowledge, developing applications using reusable code, and managing AI systems after deployment.

The company targets enterprises with annual revenue of $100 million to $10 billion that have budgets and executive mandates for AI adoption but lack the specialised talent or resources to implement projects successfully.

Piyush Kharbanda, general partner at Vertex Ventures Southeast Asia & India, said:

Most enterprises are still searching for real returns on their AI spend. RapidCanvas delivers them by pairing an AI platform that compounds with every deployment and field AI engineers who own the outcome end to end.

Kharbanda said customers were expanding their use of the platform across additional applications and business functions.

Hitachi Ventures also backed the company’s approach of combining hands-on engineering with a software platform to make customised AI deployment more repeatable and scalable.

RapidCanvas will use the proceeds to expand its sales and go-to-market operations, grow its engineering teams in the US, Brazil, and India, and strengthen partnerships with private equity firms and advisers.

These partners can introduce its services to portfolio companies and clients seeking to implement AI.

The company also plans to improve its platform, including tools for capturing enterprise knowledge, a library of reusable code and systems for governing AI applications in production.

The funding comes as businesses face pressure to demonstrate returns on AI investments, with many still working to translate experimentation into measurable operational improvements.