Gupshup Raises $60 Million from Globespan and EvolutionX to Scale Conversational AI Offerings
- ByStartupStory | July 25, 2025
Conversational AI and customer engagement platform Gupshup has raised over $60 million in a fresh mix of equity and debt funding from Globespan Capital Partners and EvolutionX Debt Capital, marking its first major capital infusion in four years.
The new funds will be deployed to accelerate Gupshup’s go-to-market strategy, scale its suite of AI Agents, and expand in high-growth markets including India, the Middle East, Latin America, and Africa.
This funding round comes as Gupshup gears up for a potential initial public offering (IPO) within the next 18 to 24 months. The company is also reportedly considering relocating its domicile from the US to India, reflecting a growing trend among Indian-origin tech companies looking to list on domestic stock exchanges.
Founded as a messaging platform, Gupshup has evolved into a full-stack conversational engagement provider for enterprises, enabling personalized, AI-powered interactions across sales, marketing, and customer support channels. Its platform facilitates more than 120 billion messages annually across 130 countries, serving over 50,000 enterprise clients.
Its product suite includes tools such as AI Agents, Campaign Manager, Click-to-Chat Ads, AI CoPilot, and Agent Assist, aimed at automating complex user journeys with real-time, context-aware communication.
Gupshup attained unicorn status in April 2021 after a $100 million investment from Tiger Global, followed by an additional $240 million the same year. It also acquired Knowlarity, Active.Ai, and Onedirect to expand its capabilities in voice AI, banking bots, and omnichannel support.
Despite rapid expansion, the company undertook workforce rationalization in 2024, laying off around 300 employees as part of a broader effort to drive operational efficiency and profitable growth.
While Gupshup has not yet released its FY24 or FY25 financials, it reported ₹1,619 crore in revenue and ₹49 crore in profit in FY23. Estimates suggest that it closed FY24 with revenues nearing $300 million (₹2,500 crore).
In India, Gupshup competes with players such as Freshchat (Freshworks), WATI, and Zoho SalesIQ in the conversational AI and communications platform-as-a-service (CPaaS) segments.
The company’s renewed fundraising and IPO ambitions signal its intent to reinforce leadership in the evolving AI-led customer engagement landscape across emerging markets.
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