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. 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.
Jordan-based start-up POSRocket has raised $650,000 in a seed funding round led by Jabbar Internet Group, Arzan VC, Propeller and featuring participation from two angel investors. The company is developing an app that will allow users to track the location of their friends using mobile devices such as smartphones or tablets. The company's system is hosted on Amazon servers, which allow for real-time monitoring of cash flow, inventories and analytics via any device.