Saudi's Foodics acquires Solo to extend self-ordering services and software solutions for eateries
Foodics Secures $170 Million in Series C Funding and Expands Its Tech Ecosystem
Foodics, a leading cloud-based POS and restaurant management solutions provider, has raised an impressive $170 million in its Series C round. The Saudi Arabia-based company, which was founded in 2014 by Ahmad Al-Zaini, has been growing steadily and now serves over 30,000 F&B business owners across 30 countries.
One of Foodics' strategic investments is in Qlub, a Dubai-based dining payments platform. Qlub offers a contactless dining experience, enabling customers to scan a QR code at restaurants, browse menus, place orders, and pay bills seamlessly via their smartphones. This platform integrates directly with Foodics' point of sale (POS) system, enhancing operational efficiency and improving the dining experience. Qlub operates in multiple countries, including the UAE, Saudi Arabia, Singapore, and Brazil, and serves prominent clients like Paul Cafe and Wagamama.
The acquisition of UK-based Solo, a provider of self-ordering kiosks and digital ordering solutions, will further integrate self-service solutions and AI-powered analytics into Foodics' ecosystem. This move is expected to streamline the ordering process for both customers and restaurant staff, while also providing valuable data insights for businesses.
Foodics also plans to introduce "Buy Now, Pay Later" features for restaurant bills through its investment in Arzaq Plus, a supply chain platform for the F&B industry. This service will offer customers more flexibility when it comes to managing their restaurant bills.
In addition to these investments, Foodics is part of Riyad Capital’s portfolio, a leading investment manager in Saudi Arabia with a strong history of supporting technology ventures. Other tech startups in Riyad Capital’s portfolio include Foodics itself, Unifonic, and Sure Global Tech.
Foodics' expansion doesn't stop there. The company has also made strategic investments in Norma, Add, and Arzaq Plus, demonstrating its commitment to strengthening its position in the regional tech and investment landscape.
With its latest funding round and strategic acquisitions, Foodics is poised to continue its growth and innovation in the F&B technology sector. The company's focus on operational efficiency, self-service solutions, and AI-powered analytics is set to revolutionise the dining experience for customers and businesses alike.
The strategic investment in Qlub, a dining payments platform, integrates directly with Foodics' point of sale (POS) system, enhancing the business's operational efficiency and improving the dining experience.
Foodics' acquisition of Solo, a provider of self-ordering kiosks and digital ordering solutions, will integrate self-service solutions and AI-powered analytics into its tech ecosystem.
