Company Name : Mobikon
Funding Amount : $2.3mn
Investor(s) Jungle Ventures
Mobikon has raised $2.3 Million growth funding, led by Singapore based Jungle Ventures. Mobikon plans to use the funds to fuel the rapid growth of the company, across markets like India, Manila, Singapore & Dubai. Mobikon has in the last 18 months, expanded out of India and is currently present in five countries, with international business contributing to 45% of the business. The company is targeting 200% growth this year.
Mobikon had previously raised $1.7mn Series A funding in 2012-13 from Jungle Ventures, Spring Singapore and Lion Rock. With the latest funding, the total capital raised from new and existing investors goes up to $ 5 million.
“The F&B business across Asia is set for a period of unprecedented growth and Mobikon is ideally positioned to spur this growth and at the same time, to benefit from it. We expect to partner with 3000 F&B outlets by end of this financial year and double the number in another year. This funding round would help Mobikon achieve some of the most critical scale points, including the launch of our automated marketing platform for the F&B industry.” Samir Khadepaun, Co-founder and CEO of Mobikon