Saudi Arabia-based foodtech startup Calo has secured an impressive $64 million in its Series B funding round, marking a significant milestone in its journey toward global expansion and a planned initial public offering (IPO) by 2027. The funding will fuel the company’s ambitious growth strategy beyond the Middle East, as it aims to revolutionize personalized meal subscriptions worldwide.
Founded in Bahrain and headquartered in Riyadh, Calo leverages cutting-edge AI technology to customize meal plans based on individual health and nutrition needs. This latest round, which includes a $39 million extension led by AlJazira Capital, builds on an earlier $25 million raise, bringing significant financial backing from prominent investors like Nuwa Capital, STV, and Khwarizmi Ventures.
The company has already made bold moves into international markets, notably acquiring two UK-based foodtech brands, Fresh Fitness Food and Detox Kitchen, as part of its entry into the European market. This strategic expansion underscores Calo’s vision to lead the global foodtech sector with innovative, nutrition-driven solutions.
Calo’s founder has outlined plans to use the funds for further acquisitions, leadership recruitment, and scaling operations. With a reported valuation of $250 million, the startup is positioning itself as a key player in the competitive meal subscription industry, eyeing a transformative IPO in Saudi Arabia by 2027.
The foodtech sector in the Middle East is experiencing rapid growth, driven by increasing demand for convenient, health-conscious dining options. Calo’s success reflects broader trends in the region, where tech-enabled solutions are reshaping traditional industries and attracting significant investor interest.
As Calo continues to innovate and expand, industry watchers anticipate its influence will extend far beyond the Gulf, potentially setting new standards for personalized nutrition globally. The coming years will be crucial as the company navigates its path to becoming a publicly listed entity.
Andrew Lee
