Foodics, a leading restaurant technology provider headquartered in Saudi Arabia, announced on Tuesday its acquisition of Solo Venture and investments in three promising startups.
This bold move underscores the company’s commitment to revolutionising restaurant management and enhancing operational efficiency in the food and beverage industry.
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Foodics completes acquisition of Solo venture
The acquisition of UK-based Solo Venture is a key milestone for Foodics as it seeks to expand its technological offerings. Solo Venture is known for its innovative self-ordering solutions, which allow restaurants to enhance customer convenience and streamline operations.
By integrating Solo’s self-service technology into its platform, Foodics aims to provide restaurants with a seamless system that combines ordering, payments, and customer engagement.
Ahmad Al-Zaini, CEO and Co-Founder of Foodics shared his excitement about the acquisition, saying, “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.”
The move is expected to strengthen Foodics’ position as a leader in restaurant management solutions and improve customers’ overall dining experience.
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Foodics strategic Investments in three startups
Alongside the acquisition, Foodics announced investments in three startups: Norma, Add, and Arzaq Plus. These companies specialise in AI-powered data analytics, integrated accounting systems, and supply chain optimisation.
Norma: An AI-powered data analytics company designed for simplicity, enabling business professionals to access instant insights without technical expertise.
Add: An accounting system tailored for small and medium businesses, enabling Foodics customers to capture data smartly and efficiently generate financial reports
Arzaq Plus: A supply chain platform transforming the F&B industry by leveraging AI, data analytics, and smart logistics to optimise sourcing and reduce waste.
According to Al-Zaini, these investments reflect Foodics’ vision of empowering restaurants with cutting-edge tools that drive efficiency and innovation.
“We are committed to fostering growth across the entire ecosystem by supporting startups that align with our mission,” he stated.