Riyadh-based foodtech Calo has secured $39 million in a Series B extension round led by AlJazira Capital, bringing its total Series B funding to $64 million, the company announced today. The oversubscribed round included participation from existing investors Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group, with Oraseya Capital joining as a new backer. Calo has now raised over $90 million in total.
The extension follows the initial $25 million Series B tranche in December 2024, led by Nuwa Capital, valuing the company at a reported $250 million.Calo is accelerating its global expansion following recent acquisitions of UK-based meal subscription brands: Fresh Fitness Food and Detox Kitchen.
It’s also launching AI-powered offerings and a line of healthy CPG products, along with on-demand delivery.Caroline Hazlehurst joined as COO, bringing experience from Deliveroo, Bird, and Moove, while John Noja came on board as Chief of Staff, after leading quick commerce at Talabat UAE.
A strategic partnership has also been formed with Armah Sports Company, with its founder Fahad Alhagbani joining Calo’s board. The alliance includes co-located retail, cross-promotions, and gym-distributed products.Rawan AlRasheed, Lead Manager at AlJazira Capital’s Impact Lab, said: “Calo is a homegrown Saudi company with global ambition, combining brand, tech, and operational excellence.
We trust the team to lead the company into a prosperous future.”Founded in late 2019, Calo operates a full-stack meal subscription service in Saudi Arabia, UAE, Bahrain, Qatar, Kuwait, Oman, and the UK. The company delivered over 10 million meals last year, with $100M+ in annualized revenue.
In Q1 2025, it grew 50% YoY, driven by KSA, UAE, and Kuwait, and now runs 10+ physical locations, some in hospitals.Calo is piloting Calo Black, an AI-powered personal chef experience, using LLMs to generate customized menus based on natural conversations.
AI is also being embedded into the UX and operations to scale personalization and efficiency.Ahmed Al Rawi, Co-founder & CEO of Calo, stated: “We’re humbled by the investor support. AI is reshaping our world, and Calo is excited to lead innovation in how people discover and consume healthy food.”
