Jungle Ventures leads $2.3m Series B in Mobikon Asia

Visual of Mobikon website, July 2015

Singapore-based Mobikon Asia, a digital marketing startup founded by Samir Khadepaun and Salil Khamkar in 2009, has secured $2.3 million in a Series B round, in a round led by local VC Jungle Ventures and two angel investors, including Puneet Pushkarna.

Mobikon Asia is a mobile commerce platform that enables a spectrum of offline F&B businesses – quick service, fine dine, casual dine and cafes – to use a digital platform for in-store customer engagement, food chain management, mobile ordering and loyalty programmes. Enterprise users are able to integrate the engagement of customers across ordering, reservations, feedback and marketing.

Currently, Mobikon maintains offices in the Indian cities of Mumbai, Pune, Bengaluru and Surat and services international clients such as Swensens, Red Crab Group and Select Group, as well as a number of F&B chains in India.

Their $1.7 million Series A round in July 2012 saw participation from Jungle Ventures, SPRING Singapore and Lion Rock. This brings their total funding raised to $4 million. Capital from the Series B is intended to augment its market presence in India, Manila, Singapore and Dubai.

In the past 18 months, Mobikon has aggressively expanded its footprint to Singapore, Philippines, the United Arab Emirates (UAE), Hong Kong and Malaysia. These overseas expansions constitute about 45 per cent of its business.

Commenting on the investment, Khadepaun, co-founder and CEO of Mobikon, said, “We expect to partner with 3000 F&B outlets by end of this financial year and double the number in another year. This funding round would help Mobikon achieve critical scale points, including the launch of an automated marketing platform for the F&B industry.”

Mobikon Asia is targeting 200 per cent growth for 2015. Khadepaun said, “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.”

Mobikon Asia claims that its platform enables more than 65,000 reviews and engages more than 6 million diners a month, with the addition of 130,000 diners every month.

Anurag Srivastava, managing partner and co-founder at Jungle Ventures, noted: “Mobikon has been growing at 9-10 per cent month on month for the last two years. Food tech space is seeing a lot of disruption and Mobikon is well positioned to be a market leader in Southeast Asia.”

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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.