Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / People/  Binny Bansal leads $12.5 million Series B round in Mobikon
BackBack

Binny Bansal leads $12.5 million Series B round in Mobikon

This is Bansal's single-largest investment in a scale-up focused on the South East Asian market
  • Mobikon is a Jungle Ventures portfolio company and has raised a total of $25 million in primary investments so far
  • Binny Bansal (Reuters file)Premium
    Binny Bansal (Reuters file)

    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.

    Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

    Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
    More Less
    Published: 25 Oct 2019, 02:32 PM IST
    Next Story footLogo
    Recommended For You
    Switch to the Mint app for fast and personalized news - Get App

    Chat with MintGenie