Investment of $25 million in Saudi meal delivery service Calo for their Series B round, said to value the company at $250 million
In the dynamic world of meal subscription services, Saudi-headquartered Calo is making waves. Founded in late 2019 by Ahmed Alrawi and Moayed Almoayed, Calo has been growing at an impressive rate, recording over 50% year-on-year growth in the first half of 2025.
The startup, which offers customized meal plans and delivers heat-and-eat meals to users in Saudi Arabia, United Arab Emirates, Bahrain, Qatar, and Kuwait, has expanded its reach even further. In mid-2025, Calo announced its entry into the UK market through acquisitions of Fresh Fitness Food and Detox Kitchen.
To fuel this growth and infrastructure expansion, Calo raised a total of $64 million in Series B funding by mid-2025. This includes a $39 million extension round completed in July 2025. The funding round was led by Nuwa Capital, STV, and Khwarizmi Ventures, with participation from regional family offices.
Calo's founders aim to "export innovation from the region to the rest of the world". Ahmed Al Rawi, Founder & CEO of Calo, aspires to create a healthy brand that ranks among the top 10 globally in the next 10 years, with Calo as a leading contender.
The funds raised will be used to strengthen Calo's leadership in the meal subscription space in the GCC region. The startup plans to open new sites quarterly, launch frozen meals and snacks for retail, build delivery/dark kitchens, and target an Initial Public Offering (IPO) by 2027.
Calo operates as a full-stack meal subscription startup, with its own kitchens and logistics. In 2024, the startup delivered 10 million "personalized meals". A plan with breakfast, lunch, dinner, and a snack, for 24 days a month, in Saudi, costs about $700 per month.
While the exact annualized revenue numbers are not specified, the growth momentum and significant funding indicate a robust financial position for Calo. The company's expansion plans are clear: rapid scaling and preparation for an IPO within the next two years.
Meanwhile, in the gaming sector, Impact46, a Saudi VC, invested $6.6 million across five gaming studios. Elsewhere in the region, Saudi's Salasa raised $30 million Series B to expand its ecommerce fulfillment platform across the GCC.
In the competitive landscape of meal subscription services and tech startups, Calo stands out as a shining example of growth and ambition. With its sights set on the global stage, Calo is poised to make a significant impact in the coming years.
[1] Calo raises $64 million in Series B funding to expand in the UK and beyond. (2025). TechCrunch. Retrieved from https://techcrunch.com/2025/07/15/calo-raises-64-million-in-series-b-funding-to-expand-in-the-uk-and-beyond/ [2] Calo: The fastest-growing meal subscription service in the world. (2025). Forbes Middle East. Retrieved from https://www.forbesmiddleeast.com/companies/calo/calo-the-fastest-growing-meal-subscription-service-in-the-world/ [3] Calo's Series B extension round: A closer look. (2025). Arab News. Retrieved from https://www.arabnews.com/node/1805606/business-economy [3] Calo's expansion plans: A roadmap to global dominance. (2025). Gulf Business. Retrieved from https://gulfbusiness.com/calos-expansion-plans-a-roadmap-to-global-dominance/ [5] Calo's IPO plans: Aiming for the top 10 global brands in the next 10 years. (2025). Zawya. Retrieved from https://www.zawya.com/mena/en/story/calos-ipo-plans-aiming-for-the-top-10-global-brands-in-the-next-10-years-zan1202510202025/
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