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Mobikon Raises $12.5 Mn Series B Round Led By Binny Bansal

Mobikon Raises $12.5 Mn Series B Round Led By Binny Bansal

Mobikon is said to utilise the funds to expand its platforms to other geographies

This is the first time Bansal has made an investment in a startup focussed on the Southeast Asia market

Apart from its global expansion plan, Mobikon claims to accelerate beyond discounting by using data insights and more

Singapore-based Mobikon, AI-driven consumer engagement and predictive analytics SaaS platform has raised a Series B round of $12.5 Mn led by former chairman and CEO of ‎Flipkart and an angel investor, Binny Bansal.

Mobikon is said to utilise these funds to enhance its tech platform and further expand into other geographies. This is the first time Bansal has made an investment in a growth-stage startup focussed on the Southeast Asia market.

In a press statement, Bansal was optimistic about Mobikon and said the company has posted stellar growth rate in customer acquisition in the last few months, along with demonstrated improvement in key business metrics of portfolio restaurants. He further added, “Their proposed geographical expansion into Australia and further into South East Asia will give them unbeatable market leadership in the restaurant-tech space.”

Samir Khadepaun, the founder and CEO of Mobikon, said that in the coming days, the company’s tech platform will accelerate beyond discounting by using data insights and open API platform which will network and channelise the entire ecosystem around restaurants. And that’s besides the global expansion plan, Bansal referred to.

Founded by Khadepaun in 2011, Mobikon has been testing its new platform for over a quarter, and at present, the company claims to provide a 360-degree data exchange platform for the F&B ecosystem. Jungle Ventures-backed Mobikon till date has raised a total of $25 Mn in primary investments in the past, led by Sistema Asia Fund.

Mobikon currently operates in five countries with 6K+ restaurants, which includes brands like Lite Bite Foods, Gajalee, Yellow Banana, Radisson hotels, international brands such as Bistro Group, Gerry’s Grill, Swensens, Nandos, Harry’s, alongside reputed banks, fintech companies.

Bansal has been backing a variety of startups as an angel investor since his exit from Flipkart. He has invested in more than 25 startups and has backed several startups multiple times. Bansal has emerged as the most active angel investor in the country in the January-March 2019 quarter. His investments days started in 2015 with five startups, followed by six startups in 2016, three in 2017, and seven in 2018, some of the startups include Inshorts, Yumlane, MadRat, Roposo, Plabro, Avail Finance and others.

In 2019, Binny launched xto10x Technologies with former EKART head Saikiran Krishnamurthy. The company is said to offer tech tools and a learning platform for startups across the globe to scale up rapidly.