F&B customer engagement startup Mobikon snags US$12.5M funding to transform into data exchange platform
Singapore-based F&B customer engagement startup Mobikon announces that it has received a US$12.5 million in Series B round of funding led by Binny Bansal, Flipkart’s co-founder. Bansal, as reported by Tech In Asia, has occupied a seat at the startup’s board.
Samir Khadepaun, Mobikon’s CEO, said that they will use the funding to further dominate the market share in its existing geographies and to establish a strong foothold in Australia and Indonesia. It also plans on investing in its tech stack, including the data science team and integration framework.
Founded in 2010 by Samir Khadepaun, the company offers a technology platform that allows restaurants to manage their customer engagement, marketing, and analytics on a single dashboard.
In its official statement, the company said it’s in an ongoing transformation to become a data exchange platform to serve the food and beverage ecosystem, while not eliminating the restaurant business at its core. Mobikon reportedly has been testing its new platform for over a quarter.
“Our objective is to accelerate the value creation for restaurants beyond discounting by using data insights and open API platform, which will network and channelise the entire ecosystem around restaurants,” said Khadepaun.
Mobikon claimed to have prominent names in the F&B business that uses its data exchange platform, from Lite Bite Foods, Radisson group of hotels, Bistro Group, Gerry’s Grill, Swensens, to Harry’s, along with banks, fintech organisations, and point-of-sale providers.
Along with the fresh funding, the startup also announced that serial entrepreneur Apoorva Ruparel has joined the startup as a co-founder to spearhead the company’s growth initiatives. Amit Divekar is also promoted to become a co-founder and chief technology officer with a core focus on enhancing the platform’s data intelligence capabilities and customer experience.
The company’s backers include Jungle Ventures, Sistema Asia Fund, C31 Ventures (Singapore), Qualgro, and Spring Singapore. In total, the company has raised US$25 million and is currently operating in five countries onboarding more than 6,000 restaurants.