Binny Bansal

Binny Bansal leads $12 Mn Series B round in Mobikon

Binny Bansal

Since the successful exit from Flipkart, both co-founders, Sachin Bansal and Binny Bansal, have become prolific investors in the Indian startup ecosystem.

While the former has kept himself busy with several ventures, the latter has been a frequent investor and has backed over a half a dozen startups in the past one-and-half-year.

Adding another startup in his portfolio, Binny Bansal has led $12 million Series B round in marketing and customer engagement platform for restaurants – Mobikon.

Following the investment, Mobikon is looking to pivot to an overall data provider for the industry. Bansal will also join the board of the eight-year-old SaaS firm.

Mobikon will utilise the fresh proceeds to expand its footprint in existing geographies and establish a strong foothold in Australia and Indonesia. A significant portion of the risk capital will also be deployed towards enhancing tech and data science team, reports ET.

Till date, Mobikon claims to operate in five countries with over 6,000 restaurants on its platform. For the next 18 months, it aims to onboard 50,000 restaurants on its platform, along with banks, fintech firms, and beverage manufacturers.

Mobikon counts Lite Bite Foods, Gajalee, Yellow Banana, Radisson group of hotels, Bistro Group, Gerry’s Grill, Swensens as its notable customers. Punchh, Fishbowl, Bridg , Adored, Clutch, Acquia, 9Lenses, are among its major competitors.

Founded by Samir Khadepaun and Salil Khamkar, Mobikon has acquired two startups MassBlurb and in 2016 and 2015 respectively.

Of late, Binny Bansal was in talks to launch worth $400 million venture capital fund to support startups. Apart from backing over half a dozen startups, the former group CEO Of Flipkart is backing Rs 200 crore worth ‘Alumni Endowment Fund’ floated by Indian Institute of Technology (IIT).

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