PIF-backed Sanabil Investments led a $20m Series B funding round in Foodics.

PIF-backed Sanabil Investments, a closed joint-stock company, led a $20m Series B funding round in Foodics, a software development company. This new investment will enable Foodics to grow its share in existing markets, accelerate its international expansion, as well as expand its Fintech offering. “2020 was a tough year during which we have proactively captured opportunities. We are very thankful to all our clients, investors, and partners who have joined us on this journey so far, and look forward to more success together in the future. At FOODICS, human capital has always been a strategic competitive advantage, and this is even more important now as we upscale with this latest investment. By 2022, our goal is to have 500 employees, and we are actively seeking extraordinary talents to join our team and grow together”, Ahmad Al-Zaini, Foodics Co-Founder and CEO.