Calo has announced its success in raising $25 million during its Series B funding round, led by Nuwa Capital with participation from Khwarizmi Ventures and STV. This investment will support the company’s expansion across the Middle East.
Key Milestones Achieved This Year:
- Delivered over 10 million meals.
- Achieved a valuation of $250 million.
- Continued operations in Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain.
At the “Meet the Big” event during Saudi FoodTech, Calo’s founder and CEO, Ahmed Al-Rawi, emphasized the promising future of the healthy food sector. Al-Rawi envisions healthy meal companies ranking
among the top 10 in the global food industry.
Calo aims to close an additional $25 million funding round by Q1 2025, with the ambitious goal of listing the company on the stock market in the coming years. With the closure of its Series B round, Calo has raised a total of $51 million across several funding rounds, reflecting its growing strength in the sector.
The healthy and customized food industry is seen as highly promising, offering vast opportunities for growth and innovation. This is fueled by increasing consumer awareness and a heightened focus on health and wellness.
