Riyadh, Saudi Arabia
Calo, a Saudi-based FoodTech startup, has announced the successful close of its $64 million Series B funding round, supporting its plans for global expansion and a potential IPO on the Saudi stock exchange by 2027.
The round was led by Aljazira Capital, with participation from Nuwa Capital, Saudi Technology Ventures (STV), Khwarizmi Ventures, Al Faisaliah Group, and Eurasia Capital, bringing Calo’s total raised capital to $72 million.
CEO and Co-founder Ahmed Alrawi confirmed that the funding will support expanded product lines—including long-lasting snacks and frozen retail meals—and the launch of on-demand delivery powered by cloud kitchens and a dedicated logistics network.
Earlier this year, Calo strengthened its international footprint by acquiring UK-based brands Fresh Fitness Food and Detox Kitchen, both leaders in subscription-based meal services.
Calo’s AI-driven meal subscription platform continues to gain momentum across the Middle East, tailoring nutrition solutions to customer health goals while achieving significant scale across Saudi Arabia, the UAE, Bahrain, Qatar, Kuwait, and Oman, and now expanding to the UK.
This funding milestone reflects not only investor confidence but also Saudi Arabia’s growing leadership in venture capital, with the Kingdom topping MENA startup funding for the third year in a row under Vision 2030.
About Calo
Founded in 2019, Calo is a Saudi FoodTech startup offering AI-powered meal subscriptions across the GCC and the UK. With global expansion underway, Calo is preparing for a potential IPO in 2027.
