Foodics will further its efforts to digitally empower entrepreneurs in the F&B sector across the MENA region.
Foodics, a leading regional cloud-based restaurant technology and payments platform, has partnered with SEA Ventures to help digitally empower entrepreneurs in the Saudi F&B sector by providing technical solutions for startup projects.
Foodics’ support for Saudi F&B
The agreement will see Foodics continue to offer a range of digital tools to support F&B concepts through the automation of their operations management. Suhail Jaber, General Manager – Saudi Arabia, at Foodics, said, “The F&B sector is one of the most dynamic sectors, requiring the continuous introduction of innovative concepts, which can be complex to embrace at a restaurant/café level. Thanks to our cooperation with SEA Ventures, we will be able to support Saudi chefs, entrepreneurs and emerging brands in the sector, by providing them with innovative digital and tech solutions. We will empower and enable them to focus on developing their projects in order to create new experiences for their customers. This strategic alliance will contribute to strengthening the Kingdom’s ambition of being the first destination for unique and rich tastes in the Middle East and the Arab world.”
Digital F&B solutions
Founded in 2014, Foodics has successfully processed over 6 billion orders through its platform. The company raised USD 170 million in its series C funding round in April last year. Foodics offers a range of services and products, from point of sale (POS) machines to management solutions to analytics tools and a marketplace through which businesses can find programs to assist with finance and accounting to delivery and online ordering. The company is present in Saudi, the UAE, Kuwait and Egypt.
Commenting on the partnership, Abdulsalam Alkuwaity, CEO of SEA Ventures, said, “At SEA Ventures, we seek to achieve a sustainable impact on the entrepreneurial landscape in various sectors, especially restaurants and F&B. We launched several programs and initiatives, the most recent of which is Takween Culinary Arts Studio, which is concerned with empowering chefs who are innovative entrepreneurs and passionate about creating different experiences and innovation in the Saudi and international culinary arts. We also seek to support them in identifying the needs in the sector and seizing potential opportunities, by developing their capabilities and leadership skills, and providing all solutions that help them manage their projects and unleash their talents. This will contribute to raising standards in the culinary arts sector in the Kingdom, and launching promising start-ups that contribute to attracting investments.”
Following its USD 170 million Series C raise, Foodics was one of the most funded regional startups in 2022.