How Much Did Foodics Raise? Funding & Key Investors

Foodics is a cloud-based Point of Sale (POS) and Restaurant Management System (RMS) designed to streamline restaurant operations. The platform offers a range of solutions including payment-enabled front of house services, online ordering, and comprehensive back office management.

Keep reading to explore the intricacies of Foodics' fundraising journey and the investors backing this innovative platform.

What Is Foodics?

Foodics operates within the Restaurant Management Systems, Point of Sale Solutions, and Financial Technology (Fintech) industries. The company is headquartered at Imam Saud Bin Faisal Rd, Riyadh 13515, 2nd floor.

Foodics offers a cloud-based POS and restaurant management system that helps restaurants manage their operations efficiently. Their solutions include order handling, payment processing, inventory management, and customer loyalty programs, serving thousands of local and international F&B brands.

How Much Funding Has Foodics Raised?

1. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: November 2016
   • Lead Investors: Raed Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To establish the initial development and launch of Foodics' platform.
2. Series A
   • Amount Raised: $4M
   • Date: September 2017
   • Lead Investors: Raed Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the platform's capabilities and market reach.
3. Series A
   • Amount Raised: $4M
   • Date: June 2019
   • Lead Investors: Savour Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further enhance the platform and support regional growth.
4. Series B
   • Amount Raised: SAR75M
   • Date: February 2021
   • Lead Investors: Sanabil, STV
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enter new markets.
5. Series C
   • Amount Raised: $170M
   • Date: April 2022
   • Lead Investors: Prosus & Naspers, Sanabil
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support regional and international expansion, including M&A strategy, and to launch new fintech and micro-lending initiatives.

Total Amount Raised: $178M

Current Valuation: Not publicly disclosed

Key Investors

• Prosus & Naspers
  • Details: Prosus is a global consumer internet group and one of the largest technology investors in the world. They operate and invest globally in markets with long-term growth potential.
  • Investment Focus Areas: Online classifieds, food delivery, payments and fintech, education technology, logistics.
  • Notable Investments: Tencent, Delivery Hero, PayU.
• Sanabil Investments
  • Details: Sanabil is a financial investment company wholly owned by the Public Investment Fund (PIF) with USD 8 billion in paid-up share capital. They commit more than USD 2 billion in capital per annum into global private investments.
  • Investment Focus Areas: VC/growth investments across multiple funding rounds.
  • Notable Investments: Not publicly disclosed.
• Sequoia Capital India
  • Details: Sequoia helps daring founders build legendary companies from idea to IPO and beyond. They operate in Southeast Asia and India.
  • Investment Focus Areas: Technology, consumer, healthcare.
  • Notable Investments: BYJUs, Carousell, Druva.
• STV
  • Details: STV is a venture capital firm that invests in technology companies. They focus on high-growth technology and tech-enabled startups.
  • Investment Focus Areas: Technology startups in various stages of growth.
  • Notable Investments: Not publicly disclosed.
• Endeavor Catalyst
  • Details: Endeavor Catalyst is a co-investment fund that invests in the companies of Endeavor Entrepreneurs. They support high-impact entrepreneurs globally.
  • Investment Focus Areas: High-impact entrepreneurs in emerging and growth markets.
  • Notable Investments: Not publicly disclosed.

What's Next for Foodics?

Foodics is poised for significant growth, driven by opportunities in regional and international expansion, fintech innovation, and micro-lending. With $170 million raised in its Series C round, the company is well-positioned to consolidate its market leadership and explore new verticals, including non-food micro-retail outlets.

Future fundraising opportunities appear promising, given the involvement of high-profile investors like Prosus, Sanabil Investments, and Sequoia Capital India. These funds will likely support further mergers and acquisitions, enhancing Foodics' market penetration and technological capabilities.

However, challenges such as competition in the fintech sector, regulatory hurdles in new markets, and the complexities of integrating acquisitions could pose obstacles. Navigating these challenges will be crucial for Foodics to maintain its competitive edge and achieve sustained growth.

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