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Constancy has slashed the estimated value of its holding in SaaS startup Gupshup by over 20% in a month and by greater than 50% because the unique funding within the newest brutal markdown throughout personal markets.
The U.S. asset supervisor valued its holding in Gupshup at $8.08 million on the finish of June, down from $10.15 million a month prior, in accordance with a month-to-month disclosure. Constancy initially invested $16.2 million from its Blue Chip Progress Fund in Gupshup in mid-2021 in a funding spherical that valued the enterprise messaging companies supplier at $1.4 billion.
The enterprise messaging platform, which began its journey in India 17 years in the past, raised $340 million in 2021 from a clutch of buyers together with Tiger International, Suppose Investments and Malabar Investments.
Constancy barely improved the worth of its holdings in Reddit, Discord, Twitter-parent X Holdings and Indian e-commerce Meesho within the month of June, it disclosed within the submitting.
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