Restaurant solutions provider Mobikon has raised $7 Mn in a Series B funding round led by Sistema Asia Fund, C31 Ventures, and Qualgro. The Series B funding round also saw participation from existing investors, Spring Singapore and Jungle Ventures.
The restaurant solutions startup will be using the funding to scale up its operations in India, Southeast Asia, and the Middle East. The investment will enable Mobikon to penetrate deeper into its existing markets in India, Philippines, Singapore, and the UAE, in the next 12-18 months.
A portion of the Series B financing will also go into setting up operations in the UK and Australia by January 2018.
Sistema Asia Fund is the proprietary VC fund of Russian conglomerate Sistema Joint Stock Financial Corporation. Headquartered in Moscow, Sistema JSFC has businesses in a variety of sectors such as telecommunications, retails, pulp and paper, healthcare, utilities, railway transportation, pharmaceuticals, mass media, finance, tourism, and agriculture.
Sistema JSFC currently boasts a consolidated revenue of more than $12 Bn. The Sistema Asia Fund was created two years ago to support up-and-coming startup in technology and niche consumer-centric segments in the Indian subcontinent.
Founded in 2012 by Samir Khadepaun, Pune and Singapore-based Mobikon is an end-to-end restaurant solutions provider with specialised tools for customer engagement, marketing, analytics and business operations.
Mobikon’s platform mEngage serves as a single dashboard for the entire spectrum of restaurant services such as quick service, fine dining, casual dine and cafes, intelligent engagement with customers, with integration across ordering, reservations, feedback, payments, and marketing platforms.
From a team of six, the company has grown into a global player with presence in nine countries including India, UAE, Singapore, Malaysia, and the Philippines. The restaurant solutions startup currently services over 700 restaurants and 3,400 food outlets. Mobikon’s proprietary platform has engaged more than 9.2 Mn customers and powered 3.5 Mn reviews.
First published here.