Binny Bansal invests $12.3 million in customer engagement platform Mobikon
Mobikon, a marketing and data-exchange platform for restaurants, has raised $12.3 million in Series B round of funding. The investment was led by former Flipkart CEO and venture capital visionary, Binny Bansal. The seven-year-old Mobikon presently operates in 5 countries and has over 6,000 restaurants on its platform. Here's all you need to know about its latest fund raise.
Founded in 2012 by Samir Khadepaun, Mobikon is headquartered in Singapore and currently operates in five countries - India, UAE, Singapore, Malaysia, and Philippines. The company offers a cloud-based data platform, which is designed to deliver deeper, data-driven and personalized customer relationship information to companies so that they can increase sales and lifetime value of their top customers and acquire more loyal userbase.
"Mobikon has posted a stellar growth rate in customer acquisition in the last few months, along with demonstrated improvement in key business metrics of portfolio restaurants," said Bansal while speaking about his investment to the media. The company's "proposed geographical expansion into Australia and further into Southeast Asia will give them unbeatable market leadership in the restaurant-tech space," he added.
Speaking about recent fund raise, Khadepaun, who is also the CEO of Mobikon, stated the company will grow its market share in existing geographies and expand its footprint to Australia and Indonesia. He added, "Our objective is to accelerate the value creation for restaurants beyond discounting by using Data Insights and open API platform which will network and channelize the entire ecosystem around restaurants."
Prior to this round, Mobikon had received $7 million investment, which was led by Sistema Asia Fund along with other investors. Besides that, the company had received $5 million in Series A and seed rounds from Jungle Ventures, Life Sreda, Qualgro, Spring Singapore, and Lion Rock. With the inclusion of the latest round, its total funding amount stands at around $25 million.