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.”