Gupshup Raises $60 Million
Conversational messaging and AI platform Gupshup has raised $60 million in new funding via a combination of equity and debt. The equity component was led by Globespan Capital Partners, and debt financing came from EvolutionX Debt Capital.
The firm intends to invest the capital in scaling up its AI-powered messaging solutions to major high-growth geographies such as India, the Middle East, Latin America, and Africa. It will also enhance its working capital for serving enterprise customers, whose payment cycles may be several months. India continues to be its largest contributor to revenue, generating about 60–70% of its business.
Gupshup has registered strong growth since its previous large funding round in 2021, more than tripling revenues while growing profitably. The firm continues to develop sophisticated AI agents that work seamlessly across messaging platforms such as WhatsApp, RCS, and voice interfaces.
In the future, Gupshup is gearing for an initial public offering (IPO) in the next 12–24 months. At present, it is considering listing in India or the U.S. and entertaining the possibility of a reverse redomiciliation—moving its headquarters back to India to align with its largest market. Governance efforts, including the hiring of independent directors, are already under way as part of IPO preparation.
Though the valuation was not revealed, the equity portion is said to make up a bit over half the round, putting its 2021 unicorn status in jeopardy.
This investment further supports Gupshup’s goal of dominating conversational AI as it expands globally and heads toward a public market entry.
