Arabia-based Foodics POS Raises $20M in Series B Funding Round
Foodies, a point-of-sale (POS) system provider based in Saudi Arabia, has raised $20 million in its Series B funding round. The funding was led by San Francisco-based investor Point72 Ventures, with participation from Saudi Aramco Entrepreneurship Ventures, Elm, STV, and Derayah Ventures. This funding round brings the total raised by Foodics to $28 million. arabiabased foodics pos 20m series thespoon.
The funding will be used to fuel the company’s expansion in the region and further develop its products and services. Foodics’ POS system is designed specifically for restaurants and food-related businesses, offering features such as inventory management, menu management, and online ordering.
In this article, we’ll take a closer look at Foodics and its recent funding round, including what it means for the company and the industry as a whole.
Who is Foodics?
Foodies is a POS system provider based in Saudi Arabia, founded in 2014. The company’s mission is to help small and medium-sized businesses (SMBs) in the food and beverage industry manage their operations more efficiently. Foodics offers a range of software and hardware solutions, including POS systems, kitchen display systems, and online ordering platforms. arabiabased foodics pos 20m series thespoon.
What makes Foodics different from other POS providers?
One of the main things that set Foodics apart from other POS providers is its focus on the food and beverage industry. While many POS providers offer generic solutions that can be adapted to different industries, Foodics has tailored its software specifically for restaurants, cafes, and other food-related businesses.
Foodics’ POS system includes a range of features that are particularly useful for food-related businesses. For example, the system includes inventory management tools that allow businesses to track their stock levels in real time, as well as menu management tools that make it easy to update menus and pricing. The system also includes online ordering capabilities, which have become increasingly important in the wake of the COVID-19 pandemic.
Foodics’ focus on the food and beverage industry has helped the company to build a strong reputation in the region. The company currently serves more than 15,000 businesses across Saudi Arabia, the UAE, Bahrain, Oman, and Egypt. arabiabased foodics pos 20m series thespoon.
What does the recent funding round mean for Foodics?
The $20 million raised in Foodics’ recent funding round will help the company to accelerate its growth in the region. The company plans to use the funding to expand its product offerings and improve its technology platform. Foodies also plan to expand its team, with a particular focus on hiring software engineers and developers.
In a statement, Ahmad Alzaini, the founder and CEO of Foodics, said: “This latest funding round will help us continue to innovate and deliver the best possible products and services to our customers, while also supporting our growth in new markets.”
The funding round is also significant for the food and beverage industry in the region. The industry has been hit hard by the COVID-19 pandemic, with many businesses struggling to stay afloat. The funding raised by Foodics will help to support SMBs in the industry by providing them with access to the latest technology and tools.
What does the future hold for Foodics?
Foodics is well-positioned for growth in the coming years. The company has already established a strong presence in the region, and its focus on the food and beverage industry gives it a unique advantage over other POS providers.
As the COVID-19 pandemic continues to reshape the industry, Foodics’ online ordering capabilities and other features will become increasingly important. The company’s expansion plans, fueled by its recent funding round, will allow it to reach even more businesses in the region and help them to operate more efficiently.