Investment in food technology company Calo expands with a $39 million Series B extension for advancements in AI technology and international growth.
Riyadh-based meal subscription service Calo has announced that it has raised a total of $64 million in its Series B funding round. This includes a recent $39 million extension, led by AlJazira Capital.
The funding will support Calo's expansion, new AI-powered personalization features, and integration of UK acquisitions. Calo has recently acquired two UK-based meal subscription brands, Fresh Fitness Food and Detox Kitchen.
Calo's growth momentum has been strong, with the startup delivering over 10 million meals last year and growing over 50% year-over-year in Q1 2025. The company operates across 10+ GCC locations, including Saudi Arabia, UAE, Bahrain, Qatar, Kuwait, Oman, and the UK.
John Noja, who previously served as 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 also joined as Chief Operating Officer.
Calo is currently piloting Calo Black, an AI-powered private chef experience. The startup is also expanding its offerings to include athlete-focused macro personalization, premium meals, clean-eating options, on-demand delivery, and plans to launch its line of healthy CPG products.
The partnership between Calo and Armah Sports Company will explore co-located retail outlets, cross-promotional offers, and distribution through gym networks. Rawan AlRasheed, Lead Manager - Impact Lab at AlJazira Capital, commented on Calo's global ambition and operational excellence.
With this funding, Calo's total capital raised is now over $90 million. The startup is planning an IPO in Saudi Arabia targeted for 2027. This reflects Calo’s strong funding position and growth momentum as of Q2 2025.
References:
[1] Calo raises $39 million in Series B extension round - TechCrunch (https://techcrunch.com/2025/06/01/calo-raises-39-million-in-series-b-extension-round/)
[2] Calo secures $64 million in Series B funding - Arab News (https://www.arabnews.com/node/1838251/business-economy)
[3] Calo: The Middle East's largest foodtech startup - Wamda (https://wamda.com/2025/06/calo-middle-east-largest-foodtech-startup/)
[4] Calo raises $64 million in Series B funding, plans IPO in Saudi Arabia - Gulf Business (https://gulfbusiness.com/calo-raises-64-million-in-series-b-funding-plans-ipo-in-saudi-arabia/)
[5] Calo's Series B funding round: A deep dive - MENAbytes (https://menabytes.com/calos-series-b-funding-round-a-deep-dive/)
Calo plans to utilize the $64 million in Series B funding to advance its technological capabilities, particularly in AI-powered personalization and integrating UK acquisitions, as part of its expansion strategy. With this funding, Calo is also exploring new investment opportunities, such as partnerships in the finance sector to support its growth and future ventures in investing.
