India, July 23 -- Conversational AI unicorn Gupshup has raised $60 Mn (about INR 500 Cr) in a mix of equity and debt funding from Globespan Capital Partners and EvolutionX Debt Capital.

The fresh fundraise will help Gupshup to strengthen its conversational AI and messaging platform and also foster its expansion plans in emerging markets. Additionally, the proceeds will be deployed to boost the company's sales, product innovation and further deepen its presence in India, the Middle East, Latin America and Africa.

The San Francisco and Mumbai-based startup started as a SMS platform back in 2004 by Beerud Sheth. Eventually, it also launched messaging services on platforms like Instagram and Whatsapp, but later pivoted to become a conversat...