GUPSHUPstarting a business messaging that began its journey in India more than two decades ago and became a unicorn Four years ago, raised more than $ 60 million – but maintains its new estimate under wraps.
In 2021, Gupshup raised Two financial rounds Within four months, securing $ 340 million from leading investors including Tiger Global, Fidelity Management, Think Investments, and Malabar Investments. These rounds – the start is the first in about a decade – estimated Gupshup at $ 1.4 billion. However, fidelity that led the circle following its unicorn milestone, struck its internal assessment of the starting at least three times between 2023 and 2024, bringing it Down to 486 million dollars.
The new financial circle, which combines equality and debt funding of Globespan Capital Partners and EvolutionX Debt Capital, aims to help the San Francisco headquarters start to expand its presence through its high-growth markets, including India, Middle East, Latin America and Africa.
The starting would not reveal the right debt portion, although its founder and general manager Beerud Seth told Techcrunch that the equity part is “just over half.”
In 2004, Gupshup – derived from Indian slang meaning “conversations” – started as a platform to help companies connect with their clients with text messages. It gained popularity because text messages were not free at the time, and people sought ways to send messages to their friends and community groups. However, as communication has changed from Short Messaging Service (SMS) to WhatsApp and Rich Communication Services (RCS), the starting relocated to these avenues with their Chatbot services. Now, as AI has become a CATCHALL termination, and AI agents – programs that can perform specific tasks on behalf of users – have appeared everywhere, Gupshup has begun to enable companies to deploy agents.
“There is a lot of business demand. Everyone needs to build these AI agents that work on messages like RCS and WhatsApp or by voice. So, building these agents, there is a huge demand, and we need to support it,” Seth said.
Worldwide, AI -agents are Winning tractionwith startups building them by drawing a strong investment interest. Tech -giants like Amazon,, Googleand Microsoft Also explores how to bring more of these agents to users through their own platforms. The result: Competition is heating.
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Gupshup does not see the growing competition as a threat. Seth has shown the large installation base of the starting – which exceeds 50,000 customers across more than 100 countries – and its track of product innovation, promoted by years of experience in business messages, strategic acquisitions and internal R&D.
“Traders cannot use simple fundamental models of the shelf and simply put them in front of customers. They need a lot of customization to do, and here Gupshup. That’s what we provide,” he noted.
Since its last round in July 2021, the startup “tripled” his income and raised his profitable, Sheth said. However, it is not clear whether this has resulted in increased evaluation, because, he said, this last round has no price.
“As a founder, you focus on value, and the assessment will follow,” Seth said, when he asked if he still considers the start a unicorn. “We operate ourselves as we will be a big company.”
Along with expansion geographically, starting aims to use its fresh funding to improve its products, which are used in industries including car, banking, e-commerce, fintech, media, payments, retail and travel. Its products also include clicking ads, AI campaign Copilot, Agent Aid, and Campaign Manager.
Gupshup claims power over 120 billion messages annually for thousands of businesses. Looking ahead, the starting sees IPO as its next major milestone.
“We talk to all our advisers, lawyers, bankers, accountants and so on, to count that,” Seth said.
The startup has no specific timeline for its public listing, although Seth told Techcrunch that it could occur in 18–24 months.
Gupshup explores if it should list in Indian stock exchanges – a move that makes a strategic sense, as the startup sees India, where WhatsApp rules, as a more favorable market. Among the reasons: It is easier to communicate their story to local retail investors who know WhatsApp more and understand how Gupshup’s products, including its AI agents, work on the platform. However, as Gupshup is arranged in the United States, Flow to India would trigger tax debts, which might require additional funding.
The ship “is the only thing we don’t control at all. The calendar depends on as much external factors as it does on the company,” Seth said.
