- Kamco Invest acquires an undisclosed stake in Foodics to support its expansion and IPO ambitions.
- Foodics is expected to go public on Tadawul within 2–3 years.
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The platform provides end-to-end tools for restaurant operations, finance, and customer engagement.
Kuwait’s Kamco Invest, a leading non-banking financial services firm, has acquired a stake in Saudi restaurant tech company Foodics, without disclosing the investment amount or ownership percentage.
The move follows Foodics’ $170 million Series C round in 2022, which was led by Prosus and Sanabil Investments, a subsidiary of the Public Investment Fund (PIF), with participation from other notable investors including Raed Ventures, Sequoia Capital India, STV, and Endeavor Catalyst.
This acquisition aligns with Kamco Invest’s strategy of backing high-growth tech companies in the MENA region, especially those with the potential for public market listings. Foodics is expected to go public on the Saudi Exchange (Tadawul) within the next two to three years.
Founded in 2014 by Ahmad Al-Zaini and Musab Al-Othmani, Foodics offers a comprehensive platform for restaurant management and operations. Its cloud-based solutions support point-of-sale systems, order processing, financial analytics, and financing options, serving a wide range of F&B establishments—from traditional restaurants to cloud kitchens.
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