Calo, the foodtech startup focused on personalized meal subscriptions, today announced it has raised $39 million in a Series B extension round led by AlJazira Capital. Existing investors Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group returned to participate in the extension, with Oraseya Capital joining the round.
Why it Matters? One of the biggest Series B rounds in the MENA region. It will also help Calo with the IPO in 2 years.
More to Know:
- Calo was founded in 2019 by Ahmed Al Rawi and Moayed Almoayed.
- It focuses on personalised meal subscriptions.
- The funds bring Calo’s total Series B round to $64 million, following an initial $25 million tranche in December 2024 led by Nuwa Capital.
- Earlier this year, it acquired Fresh Fitness Food and Detox Kitchen, two UK-based brands, as part of its international expansion to the European markets.
- It also opened 10 physical stores across the GCC and reported over 10 million meals sold in 2024.
- Calo is targeting an IPO by 2027, according to its statement.
Related Comments:
- Ahmed Al Rawi, co-founder and CEO of Calo, said, “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”.
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