Business-messaging company Gupshup has secured more than $60 million in a new financing round that blends equity from Globespan Capital Partners with debt supplied by EvolutionX Debt Capital. Founder and Chief Executive Officer Beerud Sheth said the equity portion represents "a little more than half" of the raise but declined to disclose the company’s latest valuation. Gupshup became a unicorn in 2021 when it was valued at $1.4 billion after two quick funding rounds totalling $340 million. Investor Fidelity later marked that valuation down to as low as $486 million, and the company is keeping the figure from the latest round under wraps. The San Francisco-headquartered firm, which serves more than 50,000 customers in over 100 countries and claims to process 120 billion messages a year, plans to use the fresh capital to expand in India, the Middle East, Latin America and Africa and to build out its portfolio of AI-powered customer-engagement tools. Sheth said an initial public offering is the next major milestone and could come within 18 to 24 months. Management is evaluating whether to shift the company’s domicile to India to enable a local listing, a move that could trigger tax costs but may resonate better with investors familiar with WhatsApp-centric messaging services.