Gupshup Secures $60 Million Funding from Globespan and EvolutionX

Quick Summary

• Conversational AI platform gupshup raised $60 million, primarily in equity funding from Globespan Capital Partners and partly as debt from EvolutionX Debt Capital.
• Funds will support expansion of it’s AI-driven messaging platform across India,the Middle East,South America,and Africa and enhance go-to-market strategies.
• The company is exploring a move to domicile in India for a potential public listing within 12-24 months, according to CEO Beerud Sheth.
• Fidelity previously halved its valuation of Gupshup’s holdings to $697 million in 2023; earlier valuations stood at $1.4 billion during prior investments.
• Founded in 2004, Gupshup focuses on conversational AI solutions for enterprises. It processes over 120 billion messages annually for over 50,000 businesses across various industries globally.
• India accounts for around 60% of Gupshup’s revenue; remaining share comes from international markets like UAE, Brazil & Saudi Arabia among others.
• Customers include large enterprises (60%) across sectors like ecommerce & banking alongside SMBs adopting customer engagement tools.

-Layoffs caused streamlined efficiency affecting approx .300 workforce counts,-scaled down as high hirings updates.

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