POSRocket, an Amman, Jordan-based startup has revealed that it has raised a seed investment of $650,000, led by Jabbar Internet Group, Arzan VC, Propeller Inc. and two angel investors.
Further details of the deal are awaited.
POSRocket was founded by Zeid Husban, who co-founded the company last year with Zaid Farekh, co-founder of Semantic Intelligent Technologies (SIT) and developer of SME Stack, a cloud solution designed for SMEs in Jordan.
Husban was also behind a food Ifood.jo, a food delivery website for the Jordanian market, which was acquired by Yemeksepeti, a Turkish food ordering site based in Istanbul, for an undisclosed amount.
According to its website, POSRocket offers iPad and cloud-based POS solutions that can be used by small and medium businesses to replace legacy fixed POS solutions at a fraction of the cost (by some estimates, up to 20% cheaper in the long term).
POSRocket’s cloud-based system is hosted on Amazon servers, which allows its enterprise users to monitor and maintain operations in real-time including cash flow, inventories, and analytics from wherever they are and through any device.
The news of this investment comes days after Foodics, a Saudi Arabia-based restaurant management systems startup, raised $4 million in a Series A round led by Saudi venture capital firms Raed Ventures and Riyad TAQNIA Fund.
Like POSRocket, Foodics too offers an iPad-based restaurant system to its clients. Its cloud-based service offers an electronic menu, a point of sale (POS), a kitchen display system, and an inventory management function.