Saudi Foodtech Calo Raises $39M Series B Extension for Global Expansion

Calo, the largest foodtech startup in the Middle East, has raised $39 million in a Series B extension led by Saudi Arabia's Aljazira Capital, bringing its total Series B funding to $64 million, exceeding the original $50 million target. The funding round included participation from existing investors such as Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group, along with new investor Oraseya Capital. Calo, founded in Saudi Arabia in 2019, specializes in personalized meal subscriptions and has delivered over 10 million meals in 2024 across the Gulf Cooperation Council countries. The company has expanded into the UK market through acquisitions of Fresh Fitness Food and Detox Kitchen, integrating these brands into its platform as part of its international growth strategy. Calo is also investing heavily in AI technology, developing features like Calo Black, an AI-powered personal chef experience using large language models to create personalized meal plans. The startup plans to continue expanding its product offerings, including meals tailored for athletes, and is preparing for a planned IPO in Saudi Arabia.