RapidCanvas Raises $29M for Enterprise AI Apps

RapidCanvas has raised $29 million in a Series B round led by Vertex Ventures SEA & India, with participation from Hitachi Ventures, Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures. The startup builds custom AI applications for mid-market companies and says its Enterprise AI Platform automates roughly 60% of typical development work. Key components include an Enterprise Context Engine that ingests client business data and a library of prepackaged application modules. RapidCanvas has served more than 75 clients across manufacturing, finance and retail, reporting eightfold annualized revenue growth over 18 months. Funds will expand go-to-market and engineering teams.