Already with headquarters in Saudi Arabia, UAE and Egypt, the startup is poised for further expansion after its latest seed funding.
Saudi-based restaurant management platform, Foodics, continues a remarkable few months with the announcement that it has secured $20 million in a seed fund round from Sanabil Investments and STV. During the same round, the F&B startup also raised a total of USD8 million from Endeavour Catalyst, Elm and Derayah Ventures, bringing its total funding to USD28 million altogether.
This isn’t the only mass sum the company has raised as of late. Around three months ago, the startup also secured USD100 million from Maleem Investments for Foodics Capital, an arm of Foodics that offers Sharia-compliant micro loans to restaurants and retailers in Saudi Arabia.
But its latest funding will go entirely to expanding the management platform into new regions. Currently, it has five offices in Saudi Arabia, UAE and Egypt. The startup currently serves over 10,000 F&B brands and has processed more than five billion orders since its launch.
Their software system itself offers a POS system, inventory management, table management, a digital menu for servers, and an employee timesheet. Right now, Foodics’ software is available in English, Arabic, French, and will soon be available in Spanish.
Learn more about Foodics here.
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