Calo raises $39 milliion Series B extension to boost global growth

Wamda

29-07-2025

Calo, the Saudi Arabia-headquartered foodtech startup, secured $39 million in a Series B extension led by AlJazira Capital, bringing its total Series B raise to $64 million after a $25 million round in 2024 led by Nuwa Capital. The extension was oversubscribed.
Existing backers Nuwa Capital, STV, Al Faisaliah Group, and Khwarizmi Ventures joined again, with new investor Oraseya Capital.
Founded in Bahrain in 2019 by Ahmed Al Rawi and Moayed Al Moayed, Calo is a direct-to-consumer (D2C) foodtech that provides personalised meal subscriptions to a growing base of health-conscious customers.
Calo recently acquired UK-based Fresh Fitness Food and Detox Kitchen, integrated them into its stack, and is on track for a planned IPO in Saudi Arabia.
Funds will fuel Calo's global expansion and AI-powered personalisation efforts.
Press release:
Calo, the Middle East's largest foodtech startup, revolutionising personalised meal subscriptions, today announced it has raised $39 million (SAR 146.27 million) in a Series B extension round led by AlJazira Capital. The raise brings Calo's total Series B round to $64 million (SAR 240 million), following an initial $25 million tranche in December 2024.
Existing investors Nuwa Capital, who led the initial $25 million Series B tranche, STV, Khwarizmi Ventures, and Al Faisaliah Group returned to participate in the extension, with Oraseya Capital joining the round. Following overwhelming investor interest, the round was oversubscribed beyond the originally targeted $50 million to support global growth, product expansion, and the integration of newly acquired businesses in the United Kingdom.
With over 10 million meals delivered last year, Calo is the world's fastest-growing meal subscription service, recording a high-growth nine-figure annualised revenue ($ million).
Calo recently completed the acquisition of two leading UK-based meal subscription brands, Fresh Fitness Food and Detox Kitchen, marking a strategic entry into the European market. Both brands have now been integrated into Calo's operations and technology infrastructure as part of the company's plan to scale internationally.
'We are humbled by the tremendous interest we've seen from both existing and new investors to double down on Calo. We're living in an interesting time where AI is transforming our lives, and we're excited to be investing in cutting-edge innovation to explore how Calo can use AI to influence the future of how we discover and eat healthy food. Being vertically integrated with the mission of 'Making Healthy Easy' gives us an edge to develop and scale world-class experiences not just regionally, but also globally,' said Ahmed Al Rawi, co-founder & CEO of Calo.
In the first half of 2025, Calo grew over 50 percent year-over-year, driven by strong market performance across Saudi Arabia, the UAE, and Kuwait. Over the past 12 months, Calo has localised operations by appointing General Managers in each market, improving customer understanding and accelerating growth. The company now operates more than 10 physical locations across the GCC, including hospital-based outlets, and is on track to open new sites every quarter.
Calo's product roadmap continues to evolve. Recent segment expansions include athlete-targeted macro personalisation, premium 'Chef's Picks' meals for lifestyle-focused customers, and expanded clean-eating offerings. On the model side, Calo is moving into on-demand delivery and will soon launch its own line of healthy CPG products under the mission of 'making healthy easy.'
The company is piloting Calo Black, an AI-powered private chef experience. The product leverages large language models (LLMs) to capture nuanced customer preferences through natural conversation and generate personalised daily menus. Calo is embedding AI across user interaction and operational workflows to improve efficiency, scale personalisation, and unlock new formats for customer experience.
'We are excited to lead Calo's Series B extension round and support Calo in their business ambitions,' said Rawan AlRasheed, Lead Manager – Impact Lab at AlJazira Capital. 'Calo is a homegrown Saudi company with global ambition, combining brand, technology, and operational excellence. We are confident in the team's ability to lead the company to a successful and prosperous future. The transaction marks Aljazira Capital commitment to enable local and regional business ventures that drive meaningful change and to create a positive sustainable impact in health and wellness in line with our country's objectives.'
As the company scales globally, Calo has appointed Caroline Hazlehurst as Chief Operating Officer. Caroline has held various senior executive roles supporting startups to scale operations globally, including as the first General Manager at Deliveroo UK & Ireland, VP at Bird and also President at Moove. John Noja has been appointed as Chief of Staff, from Talabat, where he was GM of its quick commerce unit.
Calo recently announced a strategic partnership with premium gym operator Armah Sports Company, unlocking new wellness and retail collaborations. Armah's founder, Fahad Alhagbani, has also joined the company's board as an independent member, building on his experience of taking two businesses public. As part of the partnership, Calo will explore co-located retail outlets, cross-promotional offers, and distribution of products through gym networks.
Calo remains headquartered in Riyadh and is on track for a planned IPO in Saudi Arabia. The company currently operates in the Kingdom of Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, and Kuwait, with UK operations now underway. The company has also launched in Oman with over 5,000 customers on the waiting list. In 2024, Calo delivered 10 million meals across the GCC, reinforcing growing demand for data-driven, personalised nutrition.