Foodics
A cloud-based restaurant management system: POS, inventory, kitchen, orders, payments and financing on one platform.
Foodics is a Saudi cloud-based restaurant management platform. It launched in Khobar in 2014 and is based in Riyadh. It serves more than 40,000 branches according to the company, and it has raised $198 million in disclosed funding.
What does Foodics do?
Foodics started from Alwans, a software company founded by Ahmad AlZaini and Mosab AlOthmani in 2010 after they studied at King Fahd University of Petroleum and Minerals. Its first product was a digital menu on the iPad. In 2014 it turned into a cloud POS system, and it later expanded into inventory, kitchen, orders, payments and restaurant financing. It ran without outside funding for three years, then raised rounds led by Sanabil and Prosus.
Products
A cloud POS system for restaurants on iPad and Android, with a web dashboard.
Payment solutions for restaurants, licensed and supervised by the Saudi Central Bank.
Financing for restaurants based on sales data, repaid through a small deduction from daily card settlements.
Online ordering and payment for a restaurant's customers.
Key features
- Cloud POS on iPad and Android
- Inventory management, kitchen screens and reports
- Payments licensed by SAMA
- Financing for restaurants, repaid from daily sales
- An app store for connecting to third-party services
- Sanabil Investments, wholly owned by the Public Investment Fund, led the Series B round and co-led the Series C round
- Founded in Khobar, and headquartered in Riyadh today
- The company has not announced an official valuation. Reports and estimates (Dealroom) put its valuation at up to $1 billion, so it is described as a unicorn “according to reports”
- The company spoke of an IPO on Tadawul within 2–3 years (2025), and no listing application has been announced so far
The documentary
Funding rounds
| Round | Date | Amount | Lead | Investors | Source |
|---|---|---|---|---|---|
| Series C | April 2022 | $170M | Prosus, Sanabil Investments | Prosus, Sanabil Investments, Sequoia Capital India, STV, Endeavor Catalyst, Vision Ventures | Source |
| Lending facility (Debt financing) | February 2021 | $100M | Maalem Investments | Maalem Investments | Source |
| Series B | February 2021 | $20M | Sanabil Investments | Sanabil Investments, STV, Endeavor Catalyst, Elm, Derayah | Source |
| Pre-Series B | June 2019 | $4M | — | Riyad Taqnia Fund, Faith Capital, Tech Invest Com, Naseel Holding | Source |
| Series A | September 2017 | $4M | Raed Ventures, Riyad Taqnia Fund | Raed Ventures, Riyad Taqnia Fund, Naseel Holding, 500 Startups | Source |
Key investors
Founders
Common questions about Foodics
When was Foodics founded?
Foodics launched in 2014 in Khobar, and it is based in Riyadh today.
Who founded Foodics?
Ahmad AlZaini (CEO) and Mosab AlOthmani (CTO), classmates at King Fahd University of Petroleum and Minerals.
How much has Foodics raised?
About $198 million, the largest being a $170 million Series C round in 2022 led by Prosus and Sanabil.
Is Foodics a unicorn?
It has not announced an official valuation, and reports point to a valuation of up to $1 billion.