The UAE’s Mubadala Investment Company has invested in Cairo-based Breadfast, a fresh bread and grocery delivery startup, ahead of a global initial public offering (IPO).

The Abu Dhabi-based sovereign investor participated in a $50 million pre-Series C fundraising for the Egyptian firm, along with other institutional and private investors, including Saudi Arabia’s Olayan Financing Company, SBI Investment Co and the World Bank’s IFC, among others.

The fresh capital is earmarked for expanding warehouses and production facilities, and funding expansion in Africa. The firm is preparing for a larger Series C round in the first half of 2026 and a global IPO.

Originally a bread delivery service founded in 2017, Breadfast is now a "super-app" for groceries, medicine, coffee and digital payments.

In late 2025, the company was valued at nearly $400 million.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com