Restaurant marketing and analytics platform Mobikon has raised $7 million (around Rs 44.7 crore) in its Series B funding round from Sistema Asia Fund, C31 Ventures and Qualgro.
Mobikon’s existing investors Jungle Ventures and Spring Singapore also participated in the round, it said in a statement.
The platform, which is run by Mobikon Asia Pte Ltd, plans to invest the capital on scaling up its business in India, Southeast Asia and Middle East.
It wants to penetrate deeper into its existing markets and build the next level of leadership teams in India, the United Arab Emirates, the Philippines and Singapore and expand into new markets like the UK and Australia within 18 months.
Mobikon is a customer engagement and marketing platform for the food and beverages industry offering customer engagement, marketing, analytics and business tools in a single platform. Its proprietary platform mEngage helps restaurants with a single view of customers across ordering, reservations, feedback, payments, social media, website and marketing channels.
Founded by Samir Khadepaun in 2012, Mobikon had raised an undisclosed amount in seed funding in 2012 and Series A funding of $5 million from Jungle Ventures, Life.Sreda, Qualgro, Spring Singapore and Lion Rock, in 2015. The company has raised $12 million so far.
Currently present in six countries, Mobikon claims to work with 700 restaurant brands with over 3,400 outlets globally. The company plans to launch operations in the UK and Australia by January 2018 and double the number of restaurants on its platform over the next one year.
“This funding will help us scale faster and strengthen our products across key markets. While SAF (Sistema Asia Fund) has great knowledge in building scalable teams, C31Ventures has strong inroads across Southeast Asia. This would help us attain a market leadership position in the geography,” Khadepaun said.
Mobikon has made two acquisitions in the last two years. In 2015, it acquired Singapore-based Trii.be, which owns a customer feedback management tool and in 2016, it bought out Mumbai-based social and marketing solutions provider MassBlurb. Last year, the company also made a strategic investment in Hipcask which is an online pre-buying and gifting platform for alcohol and coffee.
Sistema Asia Fund is a proprietary fund of Russian conglomerate Sistema JSFC while C31 Ventures is the venture capital arm of Singapore-listed property group CapitaLand. Qualgro invests in technology startups in Southeast Asia.
Like this report? Sign up for our daily newsletter to get our top reports.
Leave Your Comment
3 years ago
Digital marketing startup Mobikon Asia Pte Ltd has raised an undisclosed amount...
3 years ago
Mobikon Asia Pte Ltd, a digital marketing startup located in India and Singapore...
2 years ago
Digital marketing startup Mobikon Asia Pte Ltd has acquired MassBlurb, an...