Food delivery service Calo scores $39M in Series B extension as it sets eyes on the UK
Calo, a Middle Eastern meal delivery startup, has raised $39 million in an extension to its Series B funding round. Led by Aljazira Capital, the investment pushes the company’s total Series B haul to well above the $25 million announced in December. Returning investors include Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group.
The Bahrain-based firm intends to use the funding to launch in the United Kingdom and pursue physical retail partnerships. Calo delivers pre-made, health-focused meals tailored to customer goals, with portions designed for reheating at home.
CEO Ahmed Al Rawi said revenue grew by nearly 100% in the past year, with more than 10 million meals delivered in 2023 across five Gulf markets. He added that deliveries are increasing in line with revenue this year.
Calo’s U.K. push will put it in competition with major delivery platforms and meal-kit brands. The company is also planning to acquire other meal-kit services globally and expand its presence through stores and kiosks, as well as a partnership with Armah Sports Company for combined food and fitness packages.