Auto AI platform RapidCanvas raises $7.5 million in funding round led by Accel
RapidCanvas, an auto artificial intelligence (AI) platform built for businesses, has raised $7.5 million in a funding round led by Accel, with participation from Valley Capital Partners.
The funds will be used for customer acquisition through marketing and sales expansion, as well as for customer retention through investment in research and development.
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Offering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiIITD Certificate Programme in Data Science & Machine LearningVisit“AI has penetrated the conscience of the public. Literally every week, there is some new innovation happening. So, a big part of the use of the funds is that our product needs to stay ahead…So we need to keep investing in the technology, research and development, the product, and so on,” cofounder Rahul Pangam told ET.
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Founded in 2021 by Pangam and Uttam Phalnikar, the company offers an end-to-end platform to assist business leaders and domain experts in prototyping, creating, evolving, and explaining their own AI solutions. Users can develop tailored AI solutions without the need for data engineering or developer support.
The company has around 20 to 30 customers, including major partners such as Amazon Web Services (AWS), Google, Azure, and Snowflake.
It will initially focus on three primary markets — the US, India and Brazil. “Roughly about 30-40% revenue comes from India and the US, and the rest from
