Latest news with #foodtech
Yahoo
11 hours ago
- Business
- Yahoo
Food delivery service Calo scores $39 million in Series B extension as it sets eyes on the UK
Middle Eastern food delivery startup Calo said Tuesday it has raised $39 million in a Series B extension that was led by AlJazira Capital. The fundraise, which was more than 1.5x of its original $25 million raise in December, also saw participation from existing backers such as Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group. The company is using this funding to expand into territories like the UK and also explore different partnerships in physical space. Calo primarily offers ready-to-eat meals that customers can heat up later. The company delivers different plans to cater to various health goals. The company's founder, Ahmed Al Rawi, told TechCrunch the startup's revenue grew by 'close to 100%.' Calo delivered more than 10 million meals last year in Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain. While Al Rawi didn't provide a number for this year, he said the deliveries were growing in step with revenue. Those numbers, along with its brand, technology, and operational excellence, convinced AlJazira Capital to invest in the Saudi company. 'Calo represents a compelling opportunity at the intersection of healthtech, foodtech, and consumer subscription models,' Rawan AlRasheed, director of venture capital at AlJazira Capital told TechCrunch in a statement. The startup is also making moves to expand in the UK, where last year it acquired two meal delivery services, Fresh Fitness Food and Detox Kitchen. While Fresh Fitness Food didn't raise any money, Detox Kitchen had raised just over $3.4 million via a mix of venture-backed and equity crowdfunding rounds, according to Crunchbase data. 'We spoke to over 50 meal subscription businesses worldwide, ranging from the U.S. to Asia, in 2023-24 to learn about what is an exciting market for us to expand to. We realized the UK was the right market for us to expand. We thought that both companies that we acquired had a great culture fit to work with Calo,' Al Rawi told TechCrunch over a call. He added that Calo acquired these businesses because they had their operational layer figured out, and the startup just wanted to upscale the tech and branding layer. Al Rawi said Calo spent most of this year integrating its technology and process with both UK platforms without laying off any of the existing personnel. The startup finished the integration work in July and has been slowly making a marketing push in the UK. Calo can currently deliver meals in London daily and in other parts of the UK two to three times a week. The founder said that Calo is targeting to get to 10x its revenue in the UK in the next three years. Those UK ambitions will be met with competition. Apart from traditional food delivery giants like Just Eat and Deliveroo, Calo will also compete with meal-box services such as Gusto and Wicked Kitchen. While Calo is focused on growing in the UK, the company is also looking to acquire different meal-kit services across the world. The company is also expanding physical locations, including retail stores and kiosks in other regions. The company has also partnered with a gym chain called Armah Sports Company in Saudi Arabia to offer a bundle of Calo and gym subscription. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Zawya
11 hours ago
- Business
- Zawya
Calo raises $39mln (SAR 146.27mln) in Series B extension
AlJazira Capital leads $39 million Series B extension following UK acquisitions by the Saudi headquartered Calo Existing investors Nuwa Capital, Al Faisliah Group, and Khwarizmi Ventures double down; Oraseya Capital joins as new investor Extension oversubscribed, taking Calo's total Series B raise to $64 million (SAR 240 million) after initial $25 million tranche in 2024 which was led by Nuwa Capital Calo achieves over 50% growth in H1 2025 and opens 10 physical stores across the GCC with IPO on track for 2027 Growth driven by three strategic levers: segment expansion, model innovation, and geographic scaling Riyadh, Saudi Arabia – Calo ( the Middle East's largest foodtech startup revolutionizing personalized 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 localized 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 personalization, 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 personalized daily menus. Calo is embedding AI across user interaction and operational workflows to improve efficiency, scale personalization, 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 prospers 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 as 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, personalized nutrition. About Calo Calo is a direct-to-consumer foodtech startup providing personalized meal subscriptions to a growing base of health-conscious customers. The company is vertically integrated and built on a strong technology infrastructure allowing it to optimize the operation of its multiple kitchens and bridge consumer preferences with tech-driven analysis, production, and delivery of data-driven meals. Calo was launched in November 2019 and has offices in Riyadh, Bahrain and Dubai. For more information, job openings, and Calo's latest news, please visit:
TechCrunch
11 hours ago
- Business
- TechCrunch
Food delivery service Calo scores $39 million in Series B extension as it sets eyes on the UK
Middle Eastern food delivery startup Calo said Tuesday it has raised $39 million in a Series B extension that was led by AlJazira Capital. The fundraise, which was more than 1.5x of its original $25 million raise in December, also saw participation from existing backers such as Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group. The company is using this funding to expand into territories like the UK and also explore different partnerships in physical space. Calo primarily offers ready-to-eat meals that customers can heat up later. The company delivers different plans to cater to various health goals. The company's founder, Ahmed Al Rawi, told TechCrunch the startup's revenue grew by 'close to 100%.' Calo delivered more than 10 million meals last year in Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain. While Al Rawi didn't provide a number for this year, he said the deliveries were growing in step with revenue. Those numbers, along with its brand, technology, and operational excellence, convinced AlJazira Capital to invest in the Saudi company. 'Calo represents a compelling opportunity at the intersection of healthtech, foodtech, and consumer subscription models,' Rawan AlRasheed, director of venture capital at AlJazira Capital told TechCrunch in a statement. The startup is also making moves to expand in the UK, where last year it acquired two meal delivery services, Fresh Fitness Food and Detox Kitchen. While Fresh Fitness Food didn't raise any money, Detox Kitchen had raised just over $3.4 million via a mix of venture-backed and equity crowdfunding rounds, according to Crunchbase data. 'We spoke to over 50 meal subscription businesses worldwide, ranging from the U.S. to Asia, in 2023-24 to learn about what is an exciting market for us to expand to. We realized the UK was the right market for us to expand. We thought that both companies that we acquired had a great culture fit to work with Calo,' Al Rawi told TechCrunch over a call. He added that Calo acquired these businesses because they had their operational layer figured out, and the startup just wanted to upscale the tech and branding layer. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW Al Rawi said Calo spent most of this year integrating its technology and process with both UK platforms without laying off any of the existing personnel. The startup finished the integration work in July and has been slowly making a marketing push in the UK. Calo can currently deliver meals in London daily and in other parts of the UK two to three times a week. The founder said that Calo is targeting to get to 10x its revenue in the UK in the next three years. Those UK ambitions will be met with competition. Apart from traditional food delivery giants like Just Eat and Deliveroo, Calo will also compete with meal-box services such as Gusto and Wicked Kitchen. While Calo is focused on growing in the UK, the company is also looking to acquire different meal-kit services across the world. The company is also expanding physical locations, including retail stores and kiosks in other regions. The company has also partnered with a gym chain called Armah Sports Company in Saudi Arabia to offer a bundle of Calo and gym subscription.
Wamda
15 hours ago
- Business
- Wamda
Calo raises $39 milliion Series B extension to boost global growth
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.
Bloomberg
17 hours ago
- Business
- Bloomberg
Saudi Foodtech Startup Raises $64 Million on Path to 2027 IPO
Saudi foodtech startup Calo has raised $64 million in Series B funding as the company expands beyond the Middle East and aims for a public listing by 2027. Calo, specializing in subscription-based meal services, drew capital from investors including Nuwa Capital, Saudi Technology Ventures and AlJazira Capital.
