Wednesday, May 22, 2024
HomeNewsGupshup acquires Conversational AI platform

Gupshup acquires Conversational AI platform

The acquisition will help Gupshup further strengthen its expertise and capabilities in customer experience .

Conversational messaging platform providing company Gupshup acquires, a leading conversational AI provider for banks and Fintech companies. 

The acquisition will help Gupshup further strengthen its expertise in customer experience for its clients, especially those involved in the BFSI industry. However, no information has been revealed by either of the companies regarding the valuation of this acquisition deal. 

In addition to this acquisition, Gupshup is also in talks with possible investors about raising $100 million to $200 million in pre-IPO fundraising. Last year in July, Gupshup raised $240 million in its additional funding round, which witnessed participation from investors such as Tiger Global, Fidelity Management, Think Investments, Malabar Investments, Harbor Spring Capitals, and White Oak. 

Read More: Elon Musk buys 9.2% stake in Twitter, becomes Largest single Shareholder

During the funding round, Gupshup officials said that the raised capital would be used to expand the company’s market reach and to develop its business messaging platform further. 

Recently, Gupshup acquired AI-powered cloud communication startup Knowlarity Communications. Gupshup planned to employ Knowlarity’s voice-based AI solutions for call centers and customer care to expand the abilities of its chatbot and AI-powered messaging service. 

Co-founder and CEO of Gupshup, Beerud Sheth, said, “Active.Ai’s robust CBaaS platform adds more vertical depth to our product stack, giving BFSI customers the tools to create intelligent, frictionless micro conversations with consumers using voice, video and messaging channels.” 

He further added that they are excited to welcome the Acitve.Ai team to the Gupshup family and look forward to leading the next wave of conversational engagement and commerce technologies. 

Singapore-based artificial intelligence company was founded by Parikshit Paspulati, Ravi Shankar, and Shankar Narayanan in 2016. The company is known for building an advanced, patented conversational AI platform for financial institutions, insurance firms, and capital markets that can be quickly deployed. 

Axis Bank, Kotak Mahindra Bank, Tata Capital, IndusInd Bank, and HDFC Securities Ltd in India, NTUC Income, NIUM, and Tonik Bank in Southeast Asia, and Abu Dhabi Commercial Bank PJSC (ADCB), Qatar Islamic Bank, and Burgan Bank in the Middle East are among’s most notable customers. 

“In the conversational economy, business to consumer engagement that combines advanced natural language processing with deep enterprise connectivity is essential. Active.Ai’s conversational engagement platform powers leading financial enterprises across 43 countries,” said Co-founder and CEO of, Ravi Shankar. 

Subscribe to our newsletter

Subscribe and never miss out on such trending AI-related articles.

We will never sell your data

Join our WhatsApp Channel and Discord Server to be a part of an engaging community.

Dipayan Mitra
Dipayan Mitra
Dipayan is a news savvy writer, who does not leave a single page of news paper unturned. He is also a professional vocalist who enjoys ghazals. Building a dog shelter is his forever dream.


Please enter your comment!
Please enter your name here

Most Popular