Saudi Foodtech Calo Raises $64 Million Series B for Global Expansion

Calo, a personalised meal subscription startup founded in 2019, has raised $64 million in Series B funding to fuel its global expansion and further develop its AI-powered operations. The round was led by Saudi Arabia’s AlJazira Capital and included participation from existing investors such as Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group. Oraseya Capital, the investment arm of Dubai Integrated Economic Zones Authority, also joined as a new investor.

With operations across Saudi Arabia, the UAE, and Kuwait, Calo claims to have delivered over 10 million meals to date. The Saudi-based foodtech recently expanded its portfolio with the acquisition of UK-based personalised nutrition brands Fresh Fitness Food and Detox Kitchen. The new capital will support further expansion beyond the GCC, as well as continued investment in personalisation features and new product lines.

Calo is working towards a public listing in 2027, leveraging its growth in the region and increasing interest in health-focused, tech-enabled food services. The company’s strategy includes the launch of athlete-specific meal plans, consumer packaged goods, and ongoing R&D into AI applications for food personalisation and logistics.

The funding round comes amid a broader increase in foodtech activity in Saudi Arabia, as the Kingdom encourages investment in innovative health and consumer platforms as part of its economic diversification goals.