Foodics, the Saudi restaurant and payments technology provider, announced today that it has acquired 100% of Solo Venture, a UK-based startup for an undisclosed value. The company also announced it has led investment rounds in 3 startups.
Why it Matters? Foodics is allocating $100 million in acquisitions and investments in Fintech, AI, and other transformative technologies over the coming three years.
More to Know:
- Solo Venture is a provider of self-ordering kiosks, white-label websites, and application ordering technology.
- Integrating Solo with Foodics ecosystem will allow it to provide restaurants with an all-in-one solution to manage operations; from dine-in and online ordering to payments and analytics.
- Foodics’s new 3 investments; included: Norma, a Greek company specializing in AI-powered data analytics, “Add”, an accounting system tailored for SMEs, and Arzaq Plus, a supply chain platform for the F&B industry.
- Foodics was founded in 2014 and says it has successfully processed over 6 billion orders.
- The company stated that it has empowered more than 30,000 F&B business owners across 30 countries
Related Comments:
- Ahmad Al-Zaini, CEO and Co-Founder of Foodics, commented, “This acquisition is a significant step in our mission to build the most comprehensive restaurant management platform in MENA and beyond. To further support our ecosystem and the future of tech in the F&B sector, we are allocating $100M in strategic acquisitions and investments in Fintech, AI, and other transformative technologies over the coming three years.”
- Anas Alghanim, the Director of Corporate Development at Foodics, added, “At Foodics, every investment we make is aimed at creating valuable solutions that drive growth and deliver tangible success, ensuring that we empower our partners and customers to shape the future of the industry.”