Mobikon secures $12.5m in round led by Flipkart co-founder Binny Bansal

Mobikon, a Singapore-based customer engagement startup focused on restaurants, has secured US$12.5 million in its series B round led by investor and Flipkart co-founder Binny Bansal, who has also joined the startup’s board.

Photo credit: Flipkart

Singapore-based Mobikon offers a technology platform that allows restaurants to manage their customer engagement, marketing, and analytics on a single dashboard. It was founded by Samir Khadepaun in 2010.

“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 framework,” Khadepaun said.

The company said it is now transforming into a data exchange platform to serve the food and beverage ecosystem, while keeping the restaurant business at its core. According to a statement, Mobikon has been testing its new platform for over a quarter and was able to demonstrate positive results on business enablement.

“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 ecosystem around restaurants,” Khadepaun said.

According to the company, major F&B brands like Lite Bite Foods, Radisson group of hotels, Bistro Group, Gerry’s Grill, Swensens, and Harry’s, along with banks, fintech organizations, and point-of-sale providers, are working with Mobikon on its data exchange platform.

Besides its latest fundraise, the startup also announced a couple of key appointments to its management team. Serial entrpreneur Apoorva Ruparel has joined the startup as a co-founder to spearhead the company’s growth initiatives. And Amit Divekar was promoted to become a co-founder and chief technology officer to enhance the platform’s data intelligence capabilities and customer experience.

The company has so far raised US$25 million from investors like Jungle Ventures, Sistema Asia Fund, C31 Ventures (Singapore), Qualgro, and Spring Singapore. It is currently operating in five countries with more than 6,000 restaurants on its platform.

Mobikon said its short-term vision is to onboard over 50,000 restaurants and form partnerships with leading banks, fintech organizations, beverage manufacturers, and consumer services platforms in the next 18 months.