Riyadh-based foodtech startup Calo has raised $25m in a Series B funding round led by Nuwa Capital alongside STV, Khwarizmi Ventures, and regional family offices. The oversubscription caused Calo to extend the round to $50m, with a further $25m raise planned for Q1 2025.
Founded in 2019 in Bahrain, Calo has delivered over 10 million meals and today operates in Saudi Arabia, the UAE, Bahrain, Qatar, and Kuwait offering personalised meal plans tailored to customers’ fitness goals and dietary preferences.
The startup plans to use the funding to solidify its position in the GCC’s meal subscription market through AI-driven personalisation and new product launches with the additional goal to further expand into retail.
Calo is also pursuing mergers and acquisitions as well as hiring strategic leadership roles to support its growth and prepare for a Saudi IPO planned for 2027.
Gulf Economist Staff Writer