Mubadala Investment Company has taken a stake in Cairo-based Breadfast, a startup specialising in the delivery of fresh bread and groceries, as the company positions itself for an eventual global initial public offering.
The Abu Dhabi sovereign investor joined a $50 million pre-Series C funding round for the Egyptian business, alongside a mix of institutional and private backers, including Olayan Financing Company, SBI Investment Co and International Finance Corporation.
Proceeds from the latest raise will be directed towards scaling warehouse capacity and manufacturing infrastructure, while also supporting the company’s planned expansion across African markets. Breadfast is targeting a larger Series C round in the first half of 2026, followed by a global IPO.
Established in 2017 as a bread delivery platform, Breadfast has since evolved into a diversified “super-app”, offering groceries, pharmaceuticals, coffee and digital payment services through a single platform.
By late 2025, the company’s valuation had approached $400 million.
