Analytics platform Mobikon raises $12.5 mn from Flipkart founder Binny Bansal

Analytics platform Mobikon raises $12.5 mn from Flipkart founder Binny Bansal
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25 Oct, 2019

Mobikon, a Singapore-based startup that provides marketing and analytics solutions to the food and beverages sector, has raised $12.5 million from Flipkart founder Binny Bansal. 

The latest infusion takes the total capital raised by the startup so far to $25 million. 

In its last funding round, Mobikon raised $7 million  in a Series B round from venture capital firms Sistema Asia Fund, C31 Ventures, and Qualgro in 2017.

Founded in 2009 by Samir Khadepaun and Salil Khamkar, Mobikon claims its KONEKT platform  is used by over 6,000 restaurants in India, Australia, Africa and South-East Asia. It plans to add 50,000 more restaurants to its platform.

The capital raised in the latest round will be used to expand the startup’s presence in Australia and Indonesia and invest in building a technology infrastructure, including a data science team, it said in a statement.

“Our objective is to accelerate the value creation for restaurants beyond discounting by using data insights and open application programming interface platform,” Khadepaun said in a statement. 

The startup said it was in the process of deploying a data exchange platform for its food and beverages clients. Mobikon counts restaurant chains such as Lite Bite Foods, Gajalee, Yellow Banana, Radisson Group, Bistro Group, Gerry’s Grill, Swensens, and Nandos among its customers.

It has also made some organisational changes. Apoorva Ruparel has been brought on board as a co-founder and will lead growth initiatives. Amit Divekar has been promoted to co-founder and chief technology officer.

“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,” Bansal said in the statement. 

Bansal, who stepped down as CEO of Flipkart last year, is said to be raising a $300-400 million venture capital fund, The Economic Times reported last month. The fund, the report said, would back growth stage startups in India and Southeast Asia. Bansal continues to hold a minority stake in Flipkart.