Foodics partners with SEA Ventures to empower food entrepreneurs

Cloud-based restaurant tech and payments startup Foodics has partnered with SEA Ventures to empower entrepreneurs in the F&B sector by providing technical solutions for startup projects.

Through this agreement, the Saudi Arabia-based company aims to achieve digital empowerment and operations management automation to enhance the quality of emerging projects and provide numerous support services to upgrade the entrepreneurial landscape in the region.

It will also help increase the percentage of SMEs and focus towards contributing and supporting local content in accordance to the objectives of Saudi Vision 2030.

"We seek to achieve a sustainable impact on the entrepreneurial landscape around the kingdom across different aspects of F&B," said Abdulsalam Al-Kuwaiti, CEO of SEA Ventures. He added that the team has already launched several programmes and initiatives. The recent one being 'Takween Culinary Arts Studio', focused on empowering entrepreneur chefs on creating different innovations and experiences in Saudi and international culinary arts.

Al-Kuwaiti added that they also seek to support entrepreneurs in identifying different needs in the sector and are looking at potential opportunities. This is done by helping hone leadership skills, giving the right solutions to manage their projects, and open out talent.

"This will contribute to raising standards in the culinary arts sector in the Kingdom, and launching promising startups that contribute to attracting investments," said Al-Kuwaiti.

The partnership was signed in the presence of Al Kuwaiti and Suhail Jabar, General Manager, Foodics, Saudi Arabia, at the SEA Ventures headquarters in CITY Hub co-working space in Riyadh.

Jaber added that the F&B sector is one of the most dynamic segments and requires continuous innovation. This can be hard on a restaurant and cafe level. The partnership, Jaber said, will help support Saudi chefs, entrepreneurs, and emerging brands in the sector by providing them with innovative digital and tech  solutions.

Foodics has also been recognised by Saudi's Central Bank SAMA as a fintech company. Since 2014, the company has processed over six billion orders, and raised over $170 million in Series C funding.