Riyadh – Sharikat Mubasher: Calo, a direct-to-consumer food-tech company offering personalized meal subscriptions, raised a $25 million Series B round led by Nuwa Capital with participation from Khwarizm Ventures and STV and is now valued at around $250 million.
This was announced by its founder, Ahmed Al Rawi during an interview with Tech Crunch.
The startup, which operates in Saudi Arabia, UAE, Kuwait, Qatar, and Bahrain, allows users to pick healthier ready meals, including breakfast, lunch, dinner, and a snack — offering meal filters such as balanced, high protein, low carb, and vegetarian. Users can customize their meals and plans and even skip days.
Beyond the Series B round, Calo is aiming to close a $25 million extension round by Q1 2025 and has a goal of going public in the next few years. So, this might be its last funding tranche before the company lists in Saudi Arabia. Notably, with the Series B closed, Calo has raised a total of $51 million across multiple rounds.
Founded in 2019 in Bahrain, the company has quickly grown to nearly 700 employees located around the world. Calo currently operates in Saudi Arabia, Bahrain, the UAE, and Kuwait, with plans to expand to other markets in the future.
