Breadfast has raised an undisclosed amount in seed funding from 500 Startups, Qatar-based Averroes Ventures, and angel investors, it announced this past week.
Cairo-based Breadfast is a baked goods, and breakfast delivery startup co-founded earlier this year by Mostafa Amin, Muhammad Habib, and Abdallah Nofal. The startup currently delivers freshly baked goods to customers in Cairo’s many different neighborhoods.
Apart from on-demand delivery, the startup is also offering subscription services, where users are delivered baked goods and breakfast items every morning for a flat monthly subscription fee.
The startup said that the funding will be used to expand its logistics and operations into new neighborhoods in the greater Cairo region, to potentially serve 12 million people.
“Part of the fund will also be dedicated to our delivery utilization R&D plan,” Amin, co-founder & CEO of Breadfast told local startup media.
“We’ve seen an incredibly positive reaction from the market so far and look forward to executing an aggressive growth plan across Egypt over the next year,” said Sharif El Badawy, partner at 500 Startups, on the investment.
Dr. Ahmed Alsharif, managing partner at Averroes Ventures, said that their model has so far gained great traction and their potential to reach perpetual customer acquisition is unlimited.
Three angel investors; Sherif Nagui, Ahmed Abdel-Wahab, and Amr ElGabry also participated in the round.
Breadfast founders of have previously founded startups. Amin is a co-founder of news website Egyptian Streets; Habib is behind crowdsourced edtech platform Nafham; while Nofal is a co-founder at MarginUX, a Cairo-based software house.