Sequoia Capital India backs Foodics' $170M series C funding round

Technology investor Prosus NV led a series C financing round that brought in $170 million for Foodics.

Sequoia Capital India Advisors Private Ltd. along with existing backers including Saudi Technology Ventures and Endeavor Catalyst Inc. joined the round, which was co-led by Saudi Arabian sovereign wealth fund Sanabil Investments.

Foodics provides a cloud-based financial technology platform for restaurants across the Middle East and North Africa. It will use the funding to expand into regional and international markets, add nonfood micro-retail outlets as a segment and advance service innovation.