Egypt’s Breadfast raises $26 million

RIYADH: Egypt’s grocery delivery startup Breadfast has raised a $26 million Series A round, co-led by Vostok New Ventures and Endure Capital.

JAM Fund, YC Continuity Fund, Shorooq Partners, 4DX Ventures, and Flexport also participated in the funding deal, MAGNiTT reported.

The startup will use the money to shorten its delivery time from 60 minutes to 20 minutes by growing its network of dark stores.

It will also be launching deliveries in Alexandria in early November 2021, with plans to expand into eight new cities across Egypt and Sub-Saharan Africa.

Founded in 2017, Breadfast offers delivery of groceries and other household essentials, having initially started its business with a focus on baked goods, to Egyptians across Cairo, Giza, and Mansoura.