Mobikon, a data exchange platform for the food and beverage (F&B) sector, has raised a Series B round of funding of $12.5 million, led by Flipkart co-founder Binny Bansal.
Mobikon is a Jungle Ventures portfolio company and has raised a total of $25 million in venture funding so far. Sistema Asia Fund had led the previous round of funding into the company.
The company said that it would utilise the funds raised to be an impactful data exchange platform in the restaurant software vertical. “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,” founder and CEO Samir Khadepaun said.
The CEO said that the company’s objective was 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”.
The company started as a customer engagement platform for restaurants, but is now transforming into a 360° data exchange platform for the F&B ecosystem. The company has engaged over 27 million unique diner profiles and generates 700,000 new diner profiles every month. Mobikon operates in five countries with over 6,000 restaurants, on their platform.
Indian brands in the F&B sector like Lite Bite Foods, Gajalee, Yellow Banana, Radisson group of hotels, and international brands like The Bistro Group, Gerry’s Grill, Swensen’s, Nando’s, and Harry’s are working with Mobikon on its data exchange platform.
“Mobikon has posted a stellar growth rate in customer acquisition in the last few months, along with demonstrated improvement in key business metrics of portfolio restaurants,” said Bansal. “Their proposed geographical expansion into Australia and further into Southeast Asia will give them unbeatable market leadership in the restaurant-tech space.”