Food technology company Calo, based in Saudi Arabia, secures a $39 million Series B extension to further develop its AI capabilities and expand globally.
Calo, a Saudi Arabia-based meal subscription startup, has recently secured $39 million in a Series B extension round. The funding round was led by AlJazira Capital, with participation from existing investors Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group, as well as new investor Oraseya Capital.
The funds raised will be used to scale Calo's AI-powered meal platform, support global expansion, and integrate acquisitions in the UK, including Fresh Fitness Food and Detox Kitchen.
In a strategic move, Calo has entered into a partnership with Armah Sports Company. The partnership will explore co-located retail outlets, cross-promotional offers, and distribution through gym networks. Armah's founder, Fahad Alhagbani, has also joined Calo's board as an independent member.
Founded in 2019 by Ahmed Al Ravi and Moayed Almoayed, Calo has delivered over 10 million meals in 2024 and operates physical locations throughout the Gulf Cooperation Council countries. The startup's AI initiative aims to enhance personalization and operational efficiency while enabling new customer experiences via conversational AI.
Calo is currently expanding into the UK market through acquisitions and plans an IPO in Saudi Arabia. The startup has grown over 50% year-over-year in Q1 2025 and now runs 10+ physical locations across the GCC, including some in hospitals.
John Noja, previously the GM of quick commerce (UAE) at Talabat, has joined Calo as Chief of Staff. Caroline Hazlehurst, who has held leadership roles at Deliveroo, Bird, and Moove, has joined Calo as Chief Operating Officer.
Calo's product, "Calo Black," uses large language models (LLMs) to create customized daily meal plans by interacting with users. The startup is also expanding its offerings with athlete-focused macro personalization, premium meals, and more clean-eating options. Plans for on-demand delivery and a line of healthy CPG products are also in the works.
Rawan AlRasheed, Lead Manager - Impact Lab at AlJazira Capital, commented on the investment, saying, "Calo's innovative approach to personalized nutrition and its commitment to healthy eating and wellness make it an exciting addition to our portfolio."
With this funding round, the total Series B raise for Calo stands at $64 million, following an initial $25 million Series B tranche raised in December 2024. Calo is positioning itself as a leading global foodtech player focused on healthy eating and wellness.
[1] https://www.arabnews.com/node/1912041/business-economy [2] https://www.forbesmiddleeast.com/calo-raises-39-million-series-b-extension-round/ [3] https://www.reuters.com/business/calo-meal-subscription-startup-raises-39-million-series-b-extension-2025-03-30/ [4] https://www.gulfbusiness.com/calo-raises-39-million-series-b-extension-to-expand-ai-powered-meal-subscription-service/ [5] https://www.arabianbusiness.com/companies/calo-raises-39m-series-b-extension-round-to-scale-ai-powered-meal-platform-594432.html
- Calo, with its recent $39 million Series B extension round investment in technology and artificial intelligence, aims to scale its AI-powered meal platform and integrate acquisitions in the UK for a stronger foothold in the food-and-drink sector.
- Amidst its global expansion, Calo has also ventured into the lifestyle industry by partnering with Armah Sports Company for co-located retail outlets and cross-promotional offers, bridging the gap between health-conscious food and fitness.
- The startup, focused on finance and business growth, is planning an initial public offering (IPO) in Saudi Arabia and is projected to impact the local lifestyle market as a leading player in global foodtech, prioritizing healthy eating and wellness.
