Mobikon raises $2.3 m to fuel India, S East Asia expansion

Mobikon, a marketing platform for F&B industry, on Wednesday said it has raised USD 2.3 million funding, led by Singapore-based Jungle Ventures. Jungle's portfolio in India include companies like LivSpace, Pokkt and Zipdial (acquired by Twitter).

The Series A2 internal growth funding will be used to fuel the rapid growth of the company across markets like India, Manila, Singapore and Dubai, it said in a statement.

Mobikon had previously raised 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 USD 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 3,000 F&B outlets by end of this financial year and double the number in another year," Mobikon co-founder and CEO Samir Khadepaun said.