FOODICS raises $20 million in Series B

  • Date: 01-Feb-2021
  • Source: Wamda
  • Sector:Retail
  • Country:Saudi Arabia
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FOODICS raises $20 million in Series B

Saudi Arabia-based food and beverage (F&B) retail and restaurant management platform FOODICS, has raised $20 million in a Series B round, Led by Sanabil Investments and co-led by STV, with participation from Endeavor Catalyst, Elm and Derayah. This latest investment brings the total funds raised by FOODICS to date to $28 million. 

Founded in 2014 by Ahmad AlZaini and Mosab Al-Othmani, FOODICS offers an all-in-one point of sale (POS) solution management platform which helps restaurants and cloud kitchens run their business. The company currently caters to over 10,000 F&B outlets and has so far processed over 50,000 terminals and over five billion orders.

With the new capital infusion, FOODICS will be able to grow its share in existing markets, accelerate its international expansion, as well as expand its fintech offering.

"We are delighted to start the year on such a high note, having been able to gain the support and trust of such prominent investors. 2020 was a tough year during which we have proactively captured opportunities. We are very thankful to all our clients, investors and partners who have joined us on this journey so far, and look forward to more success together in the future. At FOODICS, human capital has always been