Breadfast, an Egyptian food delivery startup, has raised $26 million in Series A funding to grow into new cities, scale its technology, and enter Sub-Saharan African markets.
Vostok New Ventures and Endure Capital co-led the funding round, which also featured participation from JAM Fund (founded by Tinder co-founder Justin Mateen), YC Continuity Fund, Shorooq Partners, 4DX Ventures, and Flexport. This raises Breadfast’s total investment to over US$33 million to date.
Breadfast, founded in 2017 by Mostafa Amin, Muhammed Habib, and Abdallah Nofal, delivers over 2,500 supermarket items to customers’ doorsteps each morning using a mobile application.
The company owns the full value chain, including bread production, shipping and distribution, as well as technology and customer experience, and fulfills tens of thousands of orders each month.
“We began by baking and distributing fresh bread, and have grown to provide Egyptians with instant access to hundreds of basic store commodities. Our mission is to transform how people in Africa and the Middle East consume daily essentials, and through our dynamic technology and in-depth understanding of the region’s end-to-end supply chain processes, we’re growing a simple idea into a product that we believe will benefit millions of people in the MENA and Sub-Saharan regions,” said Mostafa Amin, co-founder and chief executive officer (CEO) of Breadfast.
“We are happy to be joined by a group of highly experienced and strategic investors, whose skills will be critical not only for our upcoming expansion across Africa but also for our future objectives beyond the continent.”
Breadfast will use the fresh money to accelerate its expansion into eight new cities around Egypt, scale the technology underpinning its ‘pocket supermarket’ app, and expand its workforce as it prepares to expand its wide grocery delivery service throughout Sub-Saharan Africa.
Read more on Tech Gist Africa:
ShipBlu, an Egyptian eCommerce fulfillment startup, has raised $2.4 million in seed funding
ILLA, a Cairo-based FMCG logistics firm, has completed a $2 million funding round
