Since its inception in 2014, Foodics is well-positioned to work at the cross-section of two indelible and high-growth segments: Fintech and Foodtech. The two Saudi startups that have raised more than Foodics thus far, Tamara and STCpay, are both Fintech players; and the Kingdom’s only unicorn to date, Jahez, is a q-commerce food delivery player that successfully IPO in 2022.
Foodics partners with everyone from the traditional dine-in restaurant, café, quick-serve or fast-food restaurants, bakeries, food trucks, cloud kitchens, and even non-food micro-retailers.
The Growing Business of Foodtech
There are over 124 foodtech unicorns around the world worth over US $1.3 trillion. The Foodtech market itself surpassed US $260 billion last year alone. Alt-Proteins, 3D Printing Food, and AI integrated Restaurant SaaS: The future of food has arrived.