Technology has served us in many ways, made what was once difficult easy, brought everyone closer, and increased our overall life satisfaction, especially when it comes to food. With the passage of time, the methods of ordering and communicating with cafes and restaurants have evolved, starting from the need to go to the restaurant, to the invention of drive-throughs, to ordering through applications and online platforms.
Saudi Arabia continues to advance in the sphere of digital economy in general and in food technology in particular. Food technology in the Kingdom and emerging delivery companies have increased significantly in recent years, and investment in this industry has increased proportionally, especially since the Covid-19 pandemic.
Investment in food startups in 2020 increased 3-fold, compared to the previous year. According to Magnitt’s report on venture capital investments in the food and beverage sector in the Middle East and North Africa, food and beverage startups raised $43 million in funding in 2019. The industry ranked third in terms of the number of deals, with fifty-four deals, and ranked sixth In terms of total financing. Saudi Arabia accounted for 22% of investments and 44% of financing activity in the F&B sector.
There are approximately 44 startups in the field of food technology in the Kingdom of Saudi Arabia, and they have gained popularity and acceptance from all segments of society for several reasons, including confidence in the law to ensure food safety and quality.
Here are four Saudi companies reinventing the food and beverage industry through technology:
Jazeh is a Saudi company that provides an online food delivery platform to connect restaurants, logistics fleet, and customer orders through an efficient mobile application. In June 2021, it secured $36.5 million investment in its first round. Users can discover restaurants through the app, order food, choose a delivery time and track their order. It also provides a platform for restaurants to list their businesses and take orders.
Foodics is a cloud-based restaurant management system provider. It’s an iPad POS system based in the UAE and Saudi Arabia, which provides customizable features that meet the requirements of the restaurant. Its features include restaurant sales management, inventory management, employee management, customer relationship management and order management, analytics and reports, schedule management, and more.
Siwar is a unique platform that offers delicious and efficient home-cooked meals. The company claims that the food served is made using natural ingredients and contains no preservatives. The company offers mobile applications for Android and iOS platforms.
4) Daily Mealz:
Daily Mealz provides a subscription-based healthy food delivery platform. The service app provides users with the option to sign up for one week, two weeks, or a month-long subscription plan to get healthy food delivered at their offices or homes.
And there are many other applications such as N-go, Rodha, Taker, Hungerstation, and Wssel.
This progress in the digital economy in the F&B industry the Kingdom is witnessing is not the result of chance, but of an ambitious vision of distinguished leaders who have a passion for creativity, innovation, change and progress. Are you looking to become a leader in the tech sector? Participate in the Misk 2030 Leaders Program and become a leader of transformation in your community.