No-code platform RapidCanvas bags $7.5M in seed funding led by Accel
RapidCanvas will use the funds to drive both customer acquisition through go-to-market and commercial team expansion and customer retention through R&D investments.
No-code AutoAI platform has secured $7.5 million in seed funding led by , with participation from Valley Capital Partners. The end-to-end platform is built to automate and assist business leaders in prototyping, creating, and explaining AI solutions.
The funds will be used to drive both customer acquisition through go-to-market and commercial team expansion and customer retention through R&D investments.
RapidCanvas' AutoAI platform enables business users to create prototype AI solutions within days and transition to full-scale production deployments in under a month, all without writing any code, the company said in a statement.
“RapidCanvas empowers business experts to go from idea to AI outcomes with a guided, expert-verified, automated approach that leads to transparent and verifiable outcomes. Our goal is to demystify the application of AI for everyday business problems for those who are bold enough to lead game-changing AI transformation,” said Rahul Pangam, CEO and Co-founder of RapidCanvas.
According to a Gartner survey, while over 80% of enterprises are inclined to adopt generative AI, only 54% of AI projects currently make it from pilot to production.
Moreover, 68% of surveyed executives report a notable AI skills gap. As AI revolutionises business landscapes, its adoption is surpassing the growth of the data science and engineering talent pool, leaving organisations ill-equipped to seize AI opportunities.
“While the potential of AI has become increasingly obvious to enterprises around the world, their ability to incorporate AI solutions into their operations is limited by time, talent, and money. RapidCanvas has created a unique solution to this problem, providing business users with a co-pilot that enables them to build AI solutions specific to their needs, quickly and economically,” said Dinesh Katiyar, Partner at Accel.
Founded by Rahul Pangam and Uttam Phalnikar, RapidCanvas helps business users develop AI solutions without requiring specialised data science knowledge, coding expertise, or investments in professional services. Built on cloud infrastructure, the platform is SOC2 compliant to manage customer data and integrates with over 300 databases, applications, and libraries.
Edited by Kanishk Singh