Artificial intelligence (AI)-platform RapidCanvas, climatetech startup TapFin and fintech company Pumpumpum secured early-stage funding, the companies said on Thursday.
RapidCanvas has raised $7.5 million (Rs 62 crore) in a seed funding round led by Accel, with participation from Valley Capital Partners.
The funds will be used for customer acquisition, investing in R&D and building a customer success capability.
Founded by Rahul Pangam and Uttam Phalnikar, RapidCanvas is an end-to-end platform designed to automate and guide business operators and domain experts through prototyping, creating, evolving and explaining their own AI solutions.
Through its conversational interface, it streamlines the AI development process by enabling users to independently create and refine AI solutions tailored to their business needs, bypassing the need for data engineering or developer support.
“RapidCanvas has provided 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.
TapFin has raised $4 million (Rs 33.1 million) in a seed funding round from venture capital firm Elevar Equity.
The raised capital will be used to expand the startup’s market reach, hire talent, improve the product portfolio and strengthen its technology and data capabilities.
Founded in 2023 by Terniza Berry, Aditya Singh and Pramod Marar, TapFin facilitates financing, insurance, demand aggregation, market linkages and OEM (original equipmet manufacturer) selection for participants in the clean mobility ecosystem i.e. cab aggregators, small and medium-sized cargo fleet operators, original equipment manufacturers (OEMs), dealerships, charging infrastructure providers and battery manufacturers/assemblers.
On the other hand, this was the first investment by Elevar Equity in almost a year. In April 2023, the firm led the $11 million Series A funding round of fintech startup Niro.
Prior to that, in January 2023, the firm invested in the $6 million seed funding round of Bengaluru-based live commerce platform Peepul Tree.
Mobility-based fintech platform Pumpumpum has raised $241,355 (Rs 2 crore) in a funding round from early-stage investment firm Inflection Point Ventures.
The funds will be allocated for growth in operations, geographical reach, technological developments and marketing, according to its statement.
Founded in 2018 by IIT alumni Tarun Lawadia and Sameer Kalra, PumPumPum is a pre-owned car leasing startup that provides a subscription-based platform.
“About 8% of Indian households (approximately 1 in 12) own cars. Hence the notion of leasing out pre-owned cars is bound to succeed and Pumpumpum is a category creator and leader, in the market of leasing pre-owned cars,'' said Vinay Bansal, co-founder, Inflection Point Ventures.
