RapidCanvas, an Austin, TX-based AI agents company, raised $16M in funding.
The round was led by Peak XV, with additional participation from Titanium Ventures and existing investors Accel and Valley Capital Partners, bringing the total amount to $23.5M.
The company intends to use the funds to expand operations and its development efforts.
Co-founderd by Rahul Pangam and Uttam Phalnikar, RapidCanvas is a provider of an AI platform that combines AI agents with the domain knowledge of human experts to deliver measurable business outcomes. With it, enterprises create custom, high-performance, production-grade AI solutions.
RapidCanvas’s AI agents, powered by Large Language Models (LLMs), can process vast amounts of information, identify patterns, and make decisions, effectively replicating many human skills. They can absorb and process information at scale, reading thousands of pages in seconds and performing tasks that would take humans days to complete.
