05 November 2020, Abu Dhabi, United Arab Emirates:
Mubadala, Abu Dhabi’s wealth fund and an Abu Dhabi VC firm, invests in a SoftBank-backed tech startup.
Mubadala, with $232B under management, led a $700M round of funding in Reef Technology Inc., a technology startup that specializes in using parking lots as hubs for delivering food and other services like Covid-19 testing.
Reef Technology has an ecosystem of over 4,500 locations and a team of nearly 15,000 people. Reef Technology was valued at $1B in 2018 when SoftBank acquired a stake in the firm.
Mubadala - Venture Capital in Abu DhabiMubadala - Venture Capital in Abu DhabiMubadala is a global investment company with a mandate to create sustainable financial returns for Abu Dhabi. We aspire to play a critical role in society both at home and overseas by driving positive change through our investments, as we pursue growth and yield as we advance together for a sustainable future. Locally, we are committed to furthering our shareholder’s strategic objective of a globally integrated and diversified economy. Internationally, we deploy capital with integrity across a variety of asset classes and geographies for the greater benefit of the United Arab Emirates.
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Mubadala invests in Reef Technology in a $700M round