Hitachi Ventures

Headlines · 2

1. 22h
   RapidCanvas raises $29M Series B for enterprise AI apps

   Austin-based RapidCanvas said it raised $29 million in Series B funding led by Vertex Ventures SEA & India, with Hitachi Ventures joining and existing investors Accel, Peak XV Partners, Valley Capital Partners and Titanium Ventures also participating, bringing total funding to $52.5 million after a $16 million Series A in December 2024. The company pairs an AI agent platform with its own field engineers to build and run custom AI applications for companies, connecting to and updating business software such as CRM and ERP systems, and says its Enterprise Context Engine stores a client's business rules and definitions while an Operational Harness checks application reliability per use case. RapidCanvas said annual recurring revenue grew eightfold over the past six quarters and that more than 75 companies have used its apps this year, but it did not disclose revenue figures or its valuation; the money will fund AI engineering hires in the US, Brazil and India plus sales and private equity partnerships.

   Techmeme · 🔥 22
2. 3d
   Scimplify raises $25M to expand AI-driven materials platform

   India's Scimplify has raised a $25 million all-equity strategic round led by Hitachi Ventures, with customers Henkel and Teknor Apex joining as new investors alongside existing backers Accel India, Bertelsmann India Investments, Omnivore and 3one4 Capital. A person familiar with the deal put the post-money valuation at $250 million, and the company said the round brings total equity funding to $80 million. The Bengaluru-based startup uses its in-house Scinode AI platform — built around specialized agents for research, manufacturing and quality control — to move specialty chemicals and critical materials from customer requirements to finished product, a process co-founder Sachin Santhosh said can take two months in some cases versus a typical 12 to 18 months. Scimplify says annualized revenue has reached about $200 million with roughly 340 employees, and it plans to extend its manufacturing network to the US and Japan over the next year.

   TechCrunch AI · 🔥 0

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