{"id":113129,"date":"2026-02-17T00:00:00","date_gmt":"2026-02-17T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/2026\/02\/17\/mubadala-joins-usd-50-mn-breadfast-round\/"},"modified":"2026-02-17T00:00:00","modified_gmt":"2026-02-17T00:00:00","slug":"mubadala-joins-usd-50-mn-breadfast-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2026\/02\/17\/mubadala-joins-usd-50-mn-breadfast-round\/","title":{"rendered":"Mubadala joins USD 50 mn Breadfast round"},"content":{"rendered":"

<\/a> Mubadala breaks its energy-only streak in Egypt with Brea<\/strong>dfast backing:<\/strong> Mubadala was among several investors who took part in Egyptian e-commerce platform Breadfast's USD 50 mn pre-Series C funding round, Breadfast\u2019s co-founder and CEO Mostafa Amin told Bloomberg<\/a>. Mubadala joined the round alongside SBI Investment, Olayan Financing Company, Y Combinator, the World Bank\u2019s IFC, Novastar Ventures, 4DX Ventures, and the European Bank for Reconstruction and Development.<\/p>\n

Where will the money go?<\/strong> The funds will be used to develop the firm\u2019s infrastructure and business units, as well as potential expansion in other North and West African countries.<\/p>\n

What\u2019s next?<\/strong> The company is gunning for a bigger funding round in 1H 2026, with ongoing discussions currently taking place with growth investors for a Series C round. It also targets close to 3% of Egypt\u2019s USD 100 bn grocery market in the next three years, with plans for a global IPO in the future.<\/p>\n

About the company:<\/strong> Founded nine years ago as a fresh-bread delivery service by Mostafa Amin (LinkedIn<\/a>), Muhammad Habib (LinkedIn<\/a>), and Abdallah Nofal (LinkedIn<\/a>), Breadfast developed into a platform offering groceries, ready meals, pharma products, a prepaid card, and other services. The company controls much of its supply chain, including private-label production, delivery, and its own coffee shops, with in-house brands accounting for about 40% of grocery sales.<\/p>\n

\n

Our take<\/p>\n

This is a pivot for Mubadala, which has historically treated Egypt as an energy play.<\/strong> The sovereign entity was mainly interested in the North African country\u2019s upstream gas and midstream infrastructure, including a 10\u202f% stake in the Shorouk Concession (Zohr gas field), a 20% stake in the Nour North Sinai offshore concession, and a position in the SUMED oil pipeline, according to its website<\/a>. By leading this round, the fund is signalling a move into Egypt\u2019s consumer tech infrastructure.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mubadala has taken a piece of Egypt\u2019s consumer tech sector after historically focusing on energy plays in the country<\/p>\n","protected":false},"author":1,"featured_media":113130,"comment_status":"","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1557],"tags":[7,1342,25,1343,1353],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-113129","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-enterpriseam-uae","tag-investment","tag-investment-watch","tag-mubadala","tag-startup","wpautop","entry"],"acf":{"mongo_id":"c478f1e6-05b3-4c68-926f-393fc4449a1d","order":"7","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/5\/826.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Mubadala diversifies investment footprint in Egypt","related_issue":[113117],"teaser":"Mubadala has taken a piece of Egypt\u2019s consumer tech sector after historically focusing on energy plays in the country"},"yoast_head":"\nMubadala joins USD 50 mn Breadfast round - 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