Marketing And Customer Engagement Platform For F&B Industry, Mobikon Gets $7M In Series B Funding
Funds to be deployed by Mobikon in scaling up its operations rapidly across India, South East Asia and Middle East.
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Mobikon, a leading marketing and customer engagement platform for Food & Beverages (F&B) industry, today announced raising of $7 million in Series B funding from a three-member investor consortium, Sistema Asia Fund (Proprietary fund of Russia’s largest conglomerate, Sistema JSFC), C31 Ventures (Singapore) and Qualgro & participation from the existing investors, i.e.- Jungle Ventures & Spring Singapore
Mobikon to utilise the latest round of funding to scale up its business in India, South East Asia and Middle East. The company also plans to penetrate deeper into existing markets and build the next level of leadership team in India, United Arab Emirates (UAE), Philippines, Singapore and new markets like United Kingdom (UK) and Australia in the next 12-18 months. Prior to this round of funding, Mobikon had raised Seed funding in 2012 and Series A funding, amounting to US$5 million from Jungle Ventures, Life.Sreda, Qualgro, Spring Singapore, and Lion Rock, in 2015. The capital raised by the company from new and existing investors,now totals $12 million.
Set up by Samir Khadepaun in 2012, Mobikon currently has presence in 6 countries and has 700 restaurants brands with over 3400 outlets globally. The company plans to launch operations in United Kingdom (UK) and Australia by January 2018 and double the number of restaurants on its platform over the next one year. Having witnessed more than 200% growth in FY 2015-2016, the company has again set an estimated growth rate target of 200% for the next financial year. The company is in line with its goal to achieve a market leadership position in the South East Asia by 2019.
Speaking on the latest round of funding, Samir Khadepaun, Co-founder and CEO of Mobikon said, “We are very excited with this major round of funding. It will help us scale faster and strengthen our products across key markets. With Sistema Asia Fund and C31Ventures coming onboard, it will help us to further strengthen our market leadership positioning in customer engagement and marketing. Besides funding, Sistema Asia Fund (SAF) and C31Ventures bring in other distinct advantages. While SAF has great knowledge in building scalable teams, C31Ventures has strong inroads across South East Asia. This would help us in our aim to attain market leadership position in the said geography.”
Dhruv Kapoor, Managing Director- Sistema Asia Fund Advisory added, “Sistema Asia Fund is excited to partner with Mobikon in its remarkable journey to build a global customer engagement and analytics platform for F&B industry. What Samir and his team have achieved so far is truly remarkable. Over 700 brands spanning over 3400 outlets in 9 countries, all use Mobikon's platform to interact and engage with over 8.5 million customers. With fresh investments coming in, I am confident that the Mobikon team would go full steam in their scale up plans.”
“Mobikon Provides unique platform for F&B outlets to capture data, get feedback, perform analytics and improve marketing. It helps them to use technology to drive improvements in customer service, marketing and increase revenue. Larger franchises are also seeing the benefits this can bring to their business and we are excited to be a part of this journey” - Jason Edwards, Co-Founder, Qualgro VC
Mobikon provides a single dashboard for the entire spectrum of restaurant services including; quick service, fine dine, casual dine and cafes, intelligent engagement with customers, with integration across ordering, reservations, feedback, payments and marketing platforms. Its proprietary platform mEngage is the only platform for F&B marketers to have a 360 degree view of customers. For the F&B industry, the impact is seen in improved revenues by 3-5%, increase in customer loyalty, greater returns on investments (ROI) on marketing spends and seamless inStore operations. Mobikon has also made two acquisitions in the last two years that includes – trii.be - a marketing platform for the food and beverage industry and a Mumbai-based social and marketing solutions providerMassBlurb. Mobikon had also made a strategic investment in Hipcask last year; which is an online pre-buying & gifting platform for alcohol and coffee.
Mobikon has presence in India, UAE, Singapore, Malaysia and Philippines. The platform usage has increased multi-fold, and now powers over 160,000 in-store reviews per month, having over 8.8 million unique diner profiles. Last year, restaurants have engaged over 17.8 million diners on the platform. Some of the leading brands in its kitty are Shakey’s pizza in Manila, Bistro Group Manila, Minor Group Singapore, Leopold’s of London in UAE, LiteBite Foods India, Pan India Foods, Pind Baluchi, Oriental Group, Billion Smiles, JP group, Speciality Restaurants and many other large and medium groups.
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