StopDownOpen the app

Funding · AI & Deep Tech

Vertex in talks to lead RapidCanvas round

By ·

RapidCanvas logo
Date
Company
RapidCanvas
What it does
Agentic AI for enterprises
Kind
Funding
Amount
$20-30M
Stage
Talks
Based in
Austin
Founded
2021
Sector
AI & Deep Tech

What they do

RapidCanvas is an agentic AI startup (software agents that carry out tasks) based in Hyderabad and Austin

What happened

Singapore-based Vertex Ventures is negotiating to lead a round of $20-30 million at roughly a $120 million post-money valuation

Why it matters

Vertex would put in about $20 million with existing backers, and a new investor may join, as it sharpens its AI focus

The details

  • Vertex Ventures is in talks to lead a $20-30 million round.
  • Post-money valuation (value after the money comes in) is near $120 million.
  • Vertex may invest about $20 million itself.
  • A new investor may also join existing ones.

The bigger picture

  • Vertex is refocusing on AI after consumer bets in India.
  • The deal is not final and terms may change.

About the business

  • RapidCanvas sells an enterprise AI platform that mixes software agents with human experts to automate business workflows.
  • Its buyers are large companies in manufacturing, financial services, retail, energy, construction and logistics.
  • It earns through subscriptions and stays on after launch to deliver results for the customer.
  • It offers a shared business-data layer plus ready-made AI solutions, so clients get to a working system faster.
  • The company says it has 200+ live deployments with customers such as Keysight Technologies and Toppan Packaging Americas.

What happens next

  • Finalise term sheet

Investors

Founders

  • Rahul Pangam, Cofounder and CEO
  • Uttam Phalnikar, Cofounder and CTO

Read it as a card in the app

More on RapidCanvas

Everything on RapidCanvas →

Same day

All startup news on 30 September 2026 →