Saudi foodtech Calo raises $39M Series B extension round

Calo, which is the Middle East's largest foodtech startup, 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.

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. 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 and now includes athlete-targeted macro personalisation, premium "Chef's Picks" meals for lifestyle-focused customers, and 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."

Moreover, the company is piloting Calo Black, an AI-powered private chef experience that 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.

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.

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).