GupShup, an AI-based chatting platform, has become the 10th most successful unicorn of India in 2021 as it raised $100 million. First, this has raised $ 100 million from Tiger Global and is now estimated at $ 1.4 billion. Founded in 2004, the first fundraiser ended in 2011. The launch also meant that the current investment would be followed by a ‘second closure of the additional investment received by most investors.’
Gupshup is an innovative messaging platform that helps companies reach out to their customers. It was the first company WhatsApp Business met with around the world as a messaging business partner. AI software scans business messages and makes them look like banking, wealth, e-commerce, or others and extracts vital information to show you on a simple card. Gupshup was founded by Beerud Sheth – a founding businessman and co-founded Elance – a gig economic photography boy. Elance emerged in Nasdaq in 2019 as Upwork.
The company says its in-app interface (API) empowers more than 100,000 developers and businesses to create messaging and chat experiences’ deliver more than six billion messages per month to 30+ messaging channels. It also says the annual running average is $ 150 million. “We have designed the app in such a way that it seems like it is going through the notes. Gupshup imposes a penalty on the message,” said Sheth
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The number of deals has dropped from 1,185 last year to 1,088 by 2020. Round $ 100 million or hundreds of rounds dropped from 26 in 2019 to 20 (these rounds brought in $ 3.6 billion this year, compared to $ 7.5 billion last year). Further rounds of the $ 50 million to $ 100 million contract dropped from 27 to 13. (These figures do not include investments in Telecom giant Jio Platforms, which is the only one to raise more than $ 20 billion this year.)