Mobikon Raises US$ 12.5 Mn Series B Round led by Binny Bansal

Mobikon Raises US$ 12.5 Million Series B Round led by Binny Bansal

Sudipto Ghosh

October 29, 2019

A Company which started as a customer engagement platform for the restaurants, is now transforming into a 360 degree Data Exchange platform for the F&B ecosystem. With over 6 years of experience in this ever evolving vertical, Mobikon is operating in 5 countries with 6000+ restaurants, on their platform. The company is now looking to transform its offering into a data exchange platform which will positively impact the F&B eco-system globally, keeping the restaurant business at the core.

Anurag Srivastava, the Founder and Managing Partner of Jungle Ventures, said, “We are excited to see Mobikon take this leap in to the next phase of disruptive scale. The addition of Binny Bansal on the board, gives us tremendous confidence and validation of our belief in the company and its team.”

Mobikon is a leading data exchange platform for the F&B ecosystem. The company has engaged over 27 million unique diner profile and generates 700,000 new diner profiles every month.

Mobikon is a Jungle Ventures portfolio company and has raised a total of US$25 Mn in primary investments so far. Sistema Asia Fund had led the previous round of funding in to the company.

Mobikon has been testing their new platform for over a quarter, demonstrating phenomenal results on business enablement. This unique value proposition and formidable gap in servicing the F&B vertical has resulted in Binny Bansal, India’s entrepreneurial benchmark, to lead this funding round into Mobikon.

“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,” Binny said.

Today, leading Indian brands in the F&B sector like Lite Bite Foods, Gajalee, Yellow Banana, Radisson group of Hotels, international Brands like Bistro Group, Gerry’s Grill, Swensens, Nandos, Harry’s, along side reputed Banks, FinTech organisations, POS providers and beverage brands are working with Mobikon on its unique Data exchange platform.

Samir Khadepaun, the Founder and CEO of Mobikon, said, “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 eco-system around restaurants.”

With a plan to scale rapidly, the company has recently inducted Apoorva Ruparel, a serial entrepreneur with multiple successful exits and an immaculate track record on growth hacking and investment advisory to many founders across India, Middle East and Europe. As a part of his corporate experience, Apoorva has worked with Accenture, Nortel, Juniper and I-gate Global. He now joins Mobikon as a Co-Founder & spearheads all growth initiatives.

The company has elevated Amit Divekar as a Co-founder & CTO, and he will focus on enhancing Data Intelligence on the Technology Platform and substantially elevate the Customer Experience. Amit has been with Mobikon for the last 5 years and has immensely contributed to the core architecture and technology stack. He brings two decades of invaluable technology experience, while having worked for Autodesk and Neilsoft.

Mobikon’s short-term vision is to onboard over 50,000 restaurants and disrupt the eco-system partnership with leading Banks, FinTech organisations, Beverage manufacturers, and Consumer Services platforms in the next 18 months.