F&B industry Mobikon has raised $2.3 million in Series – A 2, Internal growth funding, led by Singapore based Jungle Ventures. The company plans to use the raised funds to fuel its expansion plans across India, Manila, Singapore & Dubai.
Mobikon has in the last 18 months, expanded out of India and is currently present in five countries, with international business contributing to 45% of the business. The company is targeting 200% growth this year.
Previously in 2012-13 it had raised Series A funding from Jungle Ventures, Spring Singapore and Lion Rock. With the latest funding, the total capital raised from new and existing investors goes up to $ 5 million.
Samir Khadepaun, Co-founder and CEO of Mobikon said, “The F&B business across Asia is set for a period of unprecedented growth and Mobikon is ideally positioned to spur this growth and at the same time, to benefit from it. We expect to partner with 3000 F&B outlets by end of this financial year and double the number in another year.”
Mobikon was founded in 2009 by Samir Khadepaun and Salil Khamkar. It is a mobile commerce platform, allowing local retailers to connect with customers by providing easy to use Mobile and in-store engagement platform. It provides a platform for customer engagement and provides a single dashboard for the entire spectrum of restaurants; Quick Service, Fine Dine, Casual Dine and Cafes, to engage customers intelligently, with integration across ordering, reservations, feedback and marketing.
Apart from India, Mobikon is present in Singapore, Manila, Dubai, Macau and in Kuala Lumpur. The Mobikon platform currently powers 65,000+ reviews every month, over 130,000 new diners are added month on month and the platform engages 6,00,000+ diners every month. Some of its customers include: Copper Chimney, Pind Baluchi, Little Italy and Pizza Express in India and Swensens, Red Crab Group and Select Group, internationally.