The extension follows the initial $25 million Series B tranche raised in December 2024, which was led by Nuwa Capital, and valued the company at a reported valuation of $250 million. The latest funding takes the total capital raised by the Saudi startup to over $90 million.
The oversubscribed round saw participation from existing investors Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group, with Oraseya Capital joining as a new investor. The funding comes as Calo accelerates its international expansion following the recent acquisition of two UK-based meal subscription brands, Fresh Fitness Food and Detox Kitchen.
Founded in late 2019, Calo operates as a full-stack meal subscription service across Saudi Arabia, UAE, Bahrain, Qatar, Kuwait, Oman, and the UK. The startup, which delivered over 10 million meals last year, claims to be the world’s fastest-growing meal subscription service with over $100 million in annualized revenue.
The Bahrain-born startup grew over 50% year-over-year in Q1 2025, fueled by strong growth in Saudi Arabia, the UAE, and Kuwait. It now runs 10+ physical locations across the GCC, including some in hospitals, and plans to open new ones every quarter.
Ahmed Al Rawi, co-founder and CEO of Calo, commenting on the investment, 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.”
It is currently piloting Calo Black, a new AI-powered private chef experience. The product uses large language models to understand customer preferences through natural conversation and generate personalized daily menus. The company is also integrating AI into its user experience and operations to boost efficiency, scale personalization, and explore new formats.
It is also expanding its offerings with athlete-focused macro personalization, premium meals, and more clean-eating options. It’s also moving into on-demand delivery and plans to launch its line of healthy CPG products.
Rawan AlRasheed, Lead Manager – Impact Lab at AlJazira Capital, commented, “Calo is a homegrown Saudi company with global ambition, combining brand, technology, and operational excellence. We are confident in the team’s ability to lead the company to a successful and prosperous future.”
As part of its expansion, Calo has brought on Caroline Hazlehurst as Chief Operating Officer. She previously held leadership roles at Deliveroo, Bird, and Moove. John Noja has also joined as Chief of Staff after serving as GM of quick commerce (UAE) at Talabat.
The company has also recently announced a strategic partnership with premium gym operator Armah Sports Company, with Armah’s founder Fahad Alhagbani joining Calo’s board as an independent member. The partnership will explore co-located retail outlets, cross-promotional offers, and distribution through gym networks.
