Calo has secured a $39 million Series B extension to speed up international expansion, deepen product development, and fold in recent UK acquisitions—another signal of sustained investor appetite for GCC-born foodtech.
Led by AlJazira Capital, the extension lifts Calo’s total Series B to $64 million after a $25 million first tranche in December 2024, with returning backers Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group participating and Oraseya Capital joining the round. The raise was oversubscribed beyond an original $50 million target, earmarked for growth, new product lines, and integration of Fresh Fitness Food and Detox Kitchen—two UK meal-subscription brands now operating on Calo’s platform. The company says it delivered 10 million meals across the GCC in 2024 and is tracking nine-figure annualised revenue. In H1 2025, revenue grew more than 50% year over year across Saudi Arabia, the UAE, and Kuwait, supported by a market-by-market leadership model and a footprint of 10+ physical locations, including hospital-based outlets, with more openings planned quarterly.
On the roadmap: athlete-grade macro personalisation, premium “Chef’s Picks,” and expanded clean-eating options; Calo is also moving into on-demand delivery and building a line of healthy CPG products under its “making healthy easy” mission. The company is piloting Calo Black, an AI-powered private chef experience that uses large language models to translate nuanced preferences into daily menus, while embedding AI across customer and operations workflows. To support scale, Calo appointed Caroline Hazlehurst as COO—previously a senior operator at Deliveroo, Bird, and Moove—and named former Talabat executive John Noja as Chief of Staff. A new partnership with Armah Sports will explore co-located retail, cross-promotions, and gym-based distribution. Calo remains headquartered in Riyadh, operates across the GCC with UK operations underway, and is on track for a planned Saudi IPO.
“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. Being vertically integrated with the mission of “Making Healthy Easy” gives us an edge to develop and scale world-class experiences not just regionally, but also globally,”
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