Mobikon raises $7 mn in Series B funding round led by Sistema Asia Fund, C31 and Qualgro
Restaurant marketing and customer engagement solutions provider Mobikon has raised $7 million in Series B funding round led by Sistema Asia Fund, C31 ventures and Qualgro, according to an Inc42 report.
Existing investors Spring Singapore and Jungle Ventures also participated in the round.
Mobikon will be using the funds to scale up its operations in India, Southeast Asia and Middle East and to penetrate deeper into existing markets in India, Philippines, Singapore and UAE over the next 12-18 months.
It will also be using the funds to foray into new markets like UK and Australia by early next year.
“We are very excited about this major round of funding. It will help us scale faster and strengthen our products across key markets. With Sistema Asia Fund and C31 Ventures coming onboard, it will help us to further strengthen our market leadership positioning in customer engagement and marketing. Besides funding, Sistema Asia Fund (SAF) and C31 Ventures bring in other distinct advantages. This would help us in our aim to attain market leadership position in the said geography.” Samir Khadepaun, co-founder and CEO of Mobikon told Inc42.
Founded in 2012 by Samir Khadepaun, Mobikon is an end-to-end restaurant solutions provider with specific tools for customer engagement, marketing, analytics and business operations.
According to Inc42, its platform mEngage is a single dashboard for restaurant services including quick service, fine dining, casual dine and cafes, intelligent engagement with customers, with integration across ordering, reservations, feedback, payments, and marketing platforms.
According to its investor Sistema Fund, over 700 brands spanning over 3400 outlets in 9 countries use Mobikon’s platform to interact and engage with over 8.5 million customers.
“Sistema Asia Fund is excited to partner with Mobikon in its remarkable journey to build a global customer engagement and analytics platform for F&B industry. What Samir and his team have achieved so far is truly remarkable. With fresh investments coming in, I am confident that the Mobikon team would go full steam in their scale up plans,” says Dhruv Kapoor, Managing Director – Sistema Asia Fund Advisory.
Having started with a team of six, the company has grown to a team of 70 people internationally with a presence now across nine countries including Singapore, Malaysia, Philippines and the UAE. Mobikon’s proprietary platform has engaged over 9.2 million customers and powered 3.5 million reviews.
Mobikon has earlier raised seed funding in 2012 and $2.3 million of series A funding from Jungle Ventures, Life.Sreda, Qualgro, Spring Singapore, and Lion Rock in July 2015.
Inc42 reports that it raised another 2.7 million later in October the same year from Life.Sreda, a Singapore-based venture capital firm specializing in Series A, B and C investments and Qualgro.