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Calo secures $25 million in Series B funding

December 30, 2024
Calo secures $25 million in Series B funding

Calo, the Middle East's largest food-tech startup offering personalized meal subscriptions, has raised SAR 94 million ($25 million) in its Series B funding round.

The company will invest in strengthening its position as the leader of meal subscriptions in the GCC region with further personalization through AI and the introduction of new products. Calo also plans to expand into adjacent business lines like retail, where it has already launched five physical locations generating 7-figure revenues — as well as tackling global expansion through M&A with its first acquisition targeted to close in Q1 2025.

Calo is the world's fastest-growing meal subscription service and has recorded an unprecedented nine-figure annualized revenue ($ million), with over 100% CAGR over the past five years (2020-2024).

Funding 💰

Round $25M
Series B
Lead investor(s) Nuwa Capital
Also participating STV, Khwarizmi Ventures

Quotes 💬

“
It's been truly a privilege to be 'making healthy easy' over the past few years for hundreds of thousands of customers, but it's still day 1 for us. Being in Saudi, we're inspired to think big and be ambitious. There's no reason why we can't export innovation from the region to the rest of the world. The top 10 food brands globally earn $300B a year, none of which are solving the health problem. We bet that in the next 10 years, there will be a healthy brand that climbs to the top 10 list, and we aspire to be that brand having tech & innovation in our DNA from day 1.
— Ahmed Al Rawi, Founder & CEO of Calo
“
Calo is reimagining how the world adopts healthy lifestyles by being customer obsessed and creating products that truly solve the problem. At Nuwa, we are excited to return as investors due to our deep conviction in Ahmed's vision and Calo's ability to build a category-leading technology business that has delivered consistent growth across geographies, solving a big overlooked problem.
— Khaled Talhouni, Managing Partner, Nuwa Capital

About 🏢

Founded in Bahrain, Calo has developed and operates a tech-enabled platform that provides nutritious meals through a subscription. It provides personalized meal plans for busy people through nutritional algorithms built by chefs, nutritionists, and software engineers. On their end, users get healthy food delivered to their doorstep with the help of a mobile app — which allows them to select the plan that works for them, set target calories, choose meals or build their own menu, among other options. The company offers its services in Saudi Arabia, United Arab Emirates, Kuwait, Qatar, and Bahrain. more
source

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