Foodics, a Saudi startup that provides cloud-based POS solutions to F&B businesses including restaurants and cafes in GCC has closed its bridge round from Kuwait’s Faith Capital & others, the startup announced today, without disclosing the size of investment. It is the second disclosed financing round for Foodics, the first one being $4 million Series A that it had raised in late 2017.
Founded by Ahmad Alzaini and Musab Alothmani in 2016, Foodics’ iPad-based restaurant management platform that runs on cloud enables restaurants and food chains to optimize transactions, inventory, employee scheduling, logistics, delivery, loyal programs and integrate with hundreds of third-party apps.
The startup had originally started as a software development agency for restaurants but transformed into a product-based SaaS startup in 2016.
Foodics claims to have onboarded 4,000 clients and deployed 10,000 terminals all over the Middle East since its launch in 2016. The startup in a statement said that their solution is being used by all types of F&B businesses including restaurants, food trucks, cafes, bakeries, and fast food chains across the region.
Ahmad Al-Zaini, the Co-Founder and CEO of Foodics, commenting on the occasion, said, “Being present in five locations across the MENA region and having processed more than a billion orders, our mission at Foodics is to provide a restaurant management system that is built with our users in mind and grows with their needs.”
Mosab Al-Othmani, Co-Founder and CTO of Foodics, added, “By offering high tech solutions and real-time restaurant management, we empower our clients and provide a unique style of dining fit for the future.”
Mohammed Jaffar, Deputy Chairman and CEO of Faith Capital, said, “Our strategy at Faith Capital has been to invest in startups that aim to progress our region by shifting traditional offline spaces into online spaces that are built on technical infrastructure. Foodics is indeed gradually transforming the traditional F&B behavior into one that is more progressive and innovative, advancing not only the market but restaurateurs around the region.”
- Rush Brush witnesses increased consumer demand during pandemic - September 21, 2020
- Saudi angel groups Riyadh Angels and Najd Angels announce merger - September 14, 2020
- Kuwait’s Boutiqaat looking to raise fresh funds at a valuation of up to $1 billion: report - June 25, 2020