Calo Raises $25 Million to Expand Ready-to-Eat Meal Service Globally

Bahrain-based meal subscription service Calo has secured $25 million in a Series B funding round led by Nuwa Capital, with participation from returning investors Khwarizm Ventures and STV.

Founded by Ahmed Al-Rawi in 2019, Calo plans to expand into new markets, starting with the UK through the acquisition of a local food startup. The funding will also support deeper meal customisation options tailored to individual health goals such as weight loss, muscle gain or managing conditions like diabetes, IBS (irritable bowel syndrome) or PCOS (polycystic ovary syndrome).

Operating across Saudi Arabia, the UAE, Kuwait, Qatar and Bahrain, Calo offers chilled meals delivered directly to customers, catering to dietary preferences like high protein, low carb or vegetarian options. The company reports serving over 10 million meals in 2024, with Saudi Arabia accounting for 70% of its revenue. It employs a centralised kitchen model with a fleet of 200 delivery vans, enabling efficient city-wide coverage and cost management.

Calo, now valued at $250 million, is nearing profitability and aims to go public in Saudi Arabia within the next few years. Beyond market expansion, the startup is exploring new business models, including retail kiosks for grab-and-go options and on-demand delivery services. With an additional $25 million funding round planned for early 2025, Calo is positioned to enhance its offerings and extend its reach globally.