Jungle Ventures backed Mobikon acquires Singapore’s Trii.be

Visual from the trii website, August 2015

India and Singapore-based digital marketing company for the food and beverage industry, Mobikon, Friday announced its first acquisition with the purchase of feedback management company Trii.be.

Founded by Chun Kiat Chua, Kenneth Lim, and Wong Say Jon about two years ago, Trii.be is a customer feedback management tool for physical retail stores, developed by Singapore-based startup Ascriber.

Both companies did not disclose details of the all-cash deal.

After the completion of the transaction, Mobikon will have access to over 300-plus restaurants in Singapore and over 1,500 across Asia

This acquisition comes within a month of Mobikon raising $2.3 million in funding, led by local venture capital firm Jungle Ventures.

Last month, Mobikon, headquartered out of Pune in India, had announced that it had raised $2.3 million in new funding led existing investor Jungle Ventures, taking the total amount it had raised so far to $5 million.

“The acquisition is in line with Mobikon’s strategy to be a market leader in the store customer engagement for restaurants. It also aligns our vision to be a Southeast Asia player. Trii.be will help Mobikon increase revenue by upselling and enable multiple product offerings. We would be looking to scale up aggressively and acquisitions will continue to be [a] strategic option,” said Anuj Jain, vice president, APAC at Mobikon.

Mobikon also announced that it had got on board Puneet Pushkarna and Sameer Yajnik of TIE Singapore and Tata Technologies respectively to be part of its advisory board.

Founded in 2009, with a small team of six executives, Mobikon now has grown to a team of 50 people in six offices in Asia, including Singapore, Manila, Mumbai, Pune, Bangalore and Dubai.

Mobikon’s clients include the Little Italy group, Pan India Foods, Pizza Express in India, Red Carb, NIU in Manila and Swensens, Select Group, Secret Recipe and Alt Pizzas in Singapore, among others.

“Trii.be is able to assist merchants to visualise their feedback data and understand their customers better in a data-driven manner. However, our system is not able to support merchants to capitalise their customer feedback data for marketing campaigns,” said Kiat.

“With Mobikon, we are able to close the loop and provide an end-to-end solution for our clients. Together, we aim to revolutionise customer engagement in the food and beverage (F&B) market, and be a game-changer in this industry,” Kiat added.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.