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Mobikon Raises Funding Led By Life.SREDA and Qualgro

Mobikon has raised undisclosed growth funding from Life.SREDA and Qualgro.

The funding is in line with Mobikon’s plan to aggressively expand in South East Asia. Mobikon plans to use the funds to fuel rapid growth of the company across international markets, open office in Jakarta and conduct strategic hiring across UAE.

The new funds will help Mobikon invest in creating new tech infrastructure and provide restaurants with better products and faster upgrades.

Mobikon is soon planning to launch a complete new platform focused on Restaurant Social Engagement, which will be a breakthrough for the restaurant industry.

Mobikon has been on an expansion spree in recent months. It raised funds from Jungle Ventures in July this year and acquired Triibe, a Singapore based customer engagement platform for restaurants in August 2015. Post the Triibe acquisition two months ago, Mobikon’s revenues from international markets jumped from 40% to 55% and is expected to reach 65% by the end of this financial year. The company is targeting 200% growth this year.

The Mobikon platform currently powers 65,000+ reviews every month, over 130,000 new diners are added month on month and the platform engages 6,00,000+ diners every month.

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