Restaurant marketing platform Mobikon raises $2.3 million
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Hyderabad: Mobikon (Asia Pte. Ltd), a marketing platform for the food and beverage industry, on Wednesday said it has raised $2.3 million in a funding round led by Singapore-based Jungle Ventures, taking the total capital raised to $ 5 million.
Mobikon plans to use the money to fuel its rapid growth plans in four markets -- India, Manila, Singapore and Dubai, and launch its automated marketing platform for the food and beverage (F&B) industry. It is also present in Macau and Kuala Lumpur, and services chains such as Copper Chimney, Pind Baluchi, Little Italy and Pizza Express in India, and Swensens, Red Crab Group and Select Group, internationally.
“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,” Samir Khadepaun, co-founder and chief executive officer of Mobikon said in a statement. The company expects to partner with 3,000 F&B outlets by end of March 2016, and double the number of outlets the following year.
Founded by Khadepaun and Salil Khamkar, Mobikon provides a single dashboard for the entire spectrum of restaurants: quick service, fine dine, casual dine and cafes. Its solution allows restaurants to engage customers intelligently, with integration across ordering, reservations, feedback and marketing.
The Mobikon platform currently powers over 65,000 reviews and engages over 600,000 diners each month. About 130,000 diners are added every month to the platform, the company claims.
“Mobikon has been consistently growing at 9-10% month on month for the last two years and we expect the company to dominate customer engagement and marketing for restaurants,” Anurag Srivastava, managing partner and co-founder at Jungle Ventures said. “Food tech space is seeing a lot of disruption and Mobikon is well positioned to be a market leader in S.E (Southeast) Asia.”
The firm had previously raised so-called Series A funding in 2012-13 from Jungle Ventures, Spring Singapore and Lion Rock.
Mobikon has expanded beyond India in the last 18 months and is currently present in five countries. International business contributes to 45% of the business. The company is targeting 200% growth this financial year.