Gupshup, a business messaging startup founded in India over two decades ago, has secured over $60 million in new funding to expand into high-growth markets including India, the Middle East, Latin America, and Africa. Previously valued at $1.4 billion, Fidelity drastically reduced its internal valuation of Gupshup to around $486 million between 2023 and 2024. The startup initially focused on SMS but has adapted to changes in communication platforms, now offering AI agent deployment for businesses. The new funding consists of equity and debt, with the equity segment being slightly more than half.
The new funding round, which combines equity and debt financing from Globespan Capital Partners and EvolutionX Debt Capital, aims to help the San Francisco-headquartered startup expand its presence across its high-growth markets.
In 2004, Gupshup started as a platform to help businesses connect with their customers through text messages, gaining popularity as text messaging was not free at that time.
Gupshup has started enabling businesses to deploy AI agents as communication has shifted towards platforms like WhatsApp and Rich Communication Services.
The founder and CEO Beerud Seth shared that the equity portion of the latest funding round is a little more than half, although the exact debt portion remains undisclosed.
Collection
[
|
...
]