Home/ Companies / People/  Binny Bansal leads $12.5 million Series B round in Mobikon

Bengaluru: Mobikon, a consumer engagement and analytics platform for restaurants, announced on Friday that it has raised $12.5 million, in a Series B round led by Flipkart co-founder Binny Bansal.

A press statement from Mobikon said that this is Bansal's single-largest investment in a scale-up focused on the South East Asian market.

“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. Their proposed geographical expansion into Australia and further into South East Asia will give them unbeatable market leadership in the restaurant-tech space," Bansal said, in the statement.

Samir Khadepaun, founder and CEO of Mobikon said, in the statement, "We will use this fresh capital to take a formidable market share in our existing geographies and establish a strong foothold in Australia and Indonesia, besides investing heavily in our tech stack including data science team and integration frame work. 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."

Mobikon is a Jungle Ventures portfolio company and has raised a total of $25 million in primary investments so far. The previous funding round was led by Sistema Asia Fund, the statement added.

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Updated: 25 Oct 2019, 02:32 PM IST
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