FOODICS, a cloud-based technology firm serving restaurants in the Middle East, has raised $170 million from investors led by tech investor Prosus and Sanabil Investments, which is owned by Saudi Arabia’s sovereign wealth fund PIF, it said on Wednesday.
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The series ‘C’ funding would support regional and international expansion by FOODICS, including its merger and acquisition (M&A) strategy to increase market penetration, it said.
Other investors included Sequoia Capital India, while existing investors included STV and Endeavor Catalyst.
The Saudi Arabia-licensed fintech firm operates a payments platform, serving a range of sites from dine-in restaurants and cafes, quick service restaurants, bakeries, food trucks through to cloud kitchens
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