GupshupA commercial message startup that started its journey in India two decades ago and Became a unicorn Four years ago, a new $ 60 million round has been raised – but is keeping its new evaluation under the raps.
In 2021, picked up secret Two funding rounds Within four months, acquiring $ 340 million from major investors including Tiger Global, Fidelity Management, Think Investments and Malabar Investments. These rounds – the first decade of the startup in almost a decade – gave importance to Gupta in $ 1.4 billion. However, loyalty, which led the round after its unicorn milestone, Reduced its internal assessment Startup between 2023 and 2024 at least three times Lower as $ 486 million,
The new funding round, which connects equity and debt financing from Globspan Capital Partners and EvolutionX Date Capital, is to help expand its presence in its high-development markets including San Francisco-Mukhyalaya Startups in India, Middle East, Latin America and Africa.
The startup will not reveal the accurate debt part, although its founder and CEO Birud Seth told Techchunch that the equity part is “slightly higher.”
In 2004, the secret – “Conversation”, derived from the Indian Slang – began as a platform to help connect with its customers through text messages. It gained popularity because the text messages were not free at the time, and people were looking for ways to send messages to their friends and community groups. However, as soon as the communication shifted to WhatsApp and Rich Communication Services (RCS) as the Communications Short Messaging Service (SMS), the Startup went to these Avenue with its chatbot services. Now, as AI has become a cache word, and AI agents – software that can do specific functions from users – have emerged everywhere, Gupashp has begun to enable businesses to deploy businesses.
Seth said, “There is a lot of demand from enterprises. Everyone needs to manufacture these AI agents, which work through messaging through RCS and WhatsApp or Voice. Therefore,, building these agents, there is a huge demand, and we need to support it,” said Seth.
Globally, AI agents are Get tractionTo build them strong investors with startups. Like tech veterans Heroic, GoogleAnd Microsoft It is also discovered how to bring more to users through their own platforms through their own platforms. Results: The competition is getting hot.
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The secret does not see the growing competition as a threat. Seth pointed to a sufficient install base of the startup – which exceeds 50,000 customers in more than 100 countries – and its track of product innovation is inspired by years experience in records, business messages, strategic acquisitions and internal R&D.
He said, “Businesses cannot use a simple foundation model from the shelf and simply put them in front of the customers. They need a lot of adaptation, and this is what we give. This is what we provide,” he said.
Since its final round in July 2021, the startup “three times” its revenue and increased its profitability, Sheth said. However, it is not clear whether it was an increased evaluation, as, he said, this is not the price of this latest round.
“As a founder, you focus on the value, and follow the evaluation,” Seth said whether he was asked if he still considers the startup a unicorn. “We do our work as if we are going to be a big company.”
With geographically expansion, the purpose of the startup is to use its fresh money to increase your products, which are used in industries including motor vehicle, banking, e-commerce, fintech, media, payment, retail and travel. Its products also include click-to-Chat advertisement, AI Abhiyan Kopilot, Agent Assist and Campaign Manager.
The secretary claims to bring more than 120 billion messages annually for thousands of enterprises. Looking forward, the startup sees an IPO as its next major milestone.
“We are talking to all our advisors, lawyers, bankers, accountants, and so on, to find out,” Seth said.
There is no specific timeline for the public listing of the startup, although Seth told Techchchan that it could happen in 18-24 months.
The secret is seeing whether it should be listed on Indian stock exchanges – a step that creates a strategic meaning, as the startup sees India, where WhatsApp dominates, as a more favorable market. In reasons: It is easy for local retail investors to communicate their story, which are more familiar than WhatsApp and understand how the products of secrets work within the stage, including its AI agents. However, since the Gupta is dominated in the US, India will trigger a flip tax liabilities for India, which may require additional funds.
The IPO is “something we do not control completely. The calendar depends as much on external factors as it is on the company,” Seth said.
