Foodics, a Saudi Arabia-based technology company that offers restaurant management software, including a cloud-based point of sale (POS) system, raised $20 million in a Series B funding round, according to a report by The Spoon. This brings the company’s total funding raised to $28 million. The company’s software is designed to help restaurants manage their operations more efficiently, including inventory management, financial reporting, and customer relationship management. The company’s CEO, Alaa Elshimy, stated that the funding will be used to expand the company’s offerings and to improve the product’s functionality. He also added that the company is focused on expanding its presence in the Middle East, Africa and Asia. The investment round was led by Raed Ventures and STV and participation from Wamda Capital, Arzan Venture Capital and Endure Capital. This latest funding round is a sign of the growing interest in technology solutions for the food service industry, which is becoming more competitive and challenging in the current market.
Saudi Arabia-based Foodics, which offers restaurant management software including a cloud POS system, raises $20M Series B, bringing its total raised to $28M
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