Food marketing platform Mobikon raises funds from Life.Sreda, Qualgro

Mobikon, a platform that helps restaurants integrate ordering, reservations, feedback and marketing, has raised an undisclosed amount from Life.SREDA and Qualgro to fuel its international and domestic expansion. The company plans to hire close to 100 staff in the next two months in India, Singapore, Manila, Jakarta, Malaysia and Dubai. “Currently, we have 1700+ outlets in all these markets. We expect to cross the 3000 mark with regard to restaurants by March 2016. In India, we have 800 restaurants and that should go up to about 1500 to 1800 by March 2016. We are in a niche space and are not competing with the Zomatos and Foodpandas,” said Samir Khadepaun, Co-Founder and CEO, Mobikon. “Qualgro and Life.Sreda, besides the funding, bring in a huge network of mPOS and Cloud POS players which will help Mobikon to scale quickly, ” he added. The company plans to launch a new platform focused on Restaurant Social Engagement, which it claims will be a breakthrough for the restaurant industry. In July 2015, Mobikon had raised $2.3 million from Singapore-based Jungle Ventures. In August, it had acquired Triibe, a Singapore-based customer engagement platform for restaurants. Post the acquisition, Mobikon’s revenues from international markets jumped from 40-55 percent and is expected to reach 65 percent by the end of this financial year. The acquisition helped the company, which is targetting 200 percent growth this year, get a bigger market share in Singapore, Khadepaun informed. “We had 30 brands and 140 outlets in Singapore earlier and post the acquisition of the plaform, we had a significant jump with 72 brands across 400 restaurants. Our business has also registered growth in Singapore on account of referrals,” he added.