Grupshup did not reveal the exact debt portion, although its founder and CEO, Beerud Seth, reported to TechCrunch that the equity part is “a little more than half.”
Also worth mentioning is the fact that Gupshop came from the Indian slang meaning of “conversations”. In 2004, the company started out as a platform that helped businesses connect with their customers through text messages. The app gained popularity as test messages were, at that time, for a fee, and everyone was seeking ways to text their friends.
And, as technology evolved and the shift from SMS to WhatsApp and Rich Communication Services (RCS), the startup joined this shift as well, along with its chatbot services.
Seth also mentioned, “There’s a lot of demand coming from enterprises. Everybody needs to build these AI agents, which work through messaging like RCS and WhatsApp or through voice. So, building out these agents, there’s huge demand, and we need to support it”.
AI agents are gaining traction globally nowadays, building startups and drawing strong investor interest. Tech giants such as Amazon, Google, and Microsoft are also exploring how to bring more of these agents to users through their own platforms.
Seth also said, “Businesses cannot use simple foundation models off the shelf and just put them in front of customers. They need a lot of customization to be done, and that’s where Gupshup comes in. That’s what we provide.”
Now, the company is exploring the possibilities of listing on the Indian stock exchange, a move that would make strategic sense as the startup views India, a place where WhatsApp dominates the market.
Seth talked about the IPO, saying that it “is the one thing that we don’t control entirely. The calendar depends as much on external factors as it does on the company,”.
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