Calo Raises $39M Series B Extension to Drive AI-Powered Meal Personalization and Global Expansion

Calo, the Bahrain-born, Saudi-headquartered foodtech startup, has raised $39 million in a Series B extension led by AlJazira Capital, bringing its total Series B funding to $64 million following the initial $25 million round in late 2024. The oversubscribed extension round saw participation from returning backers—Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group—as well as new investor Oraseya Capital, fueling Calo’s ambitious global expansion and AI-driven personalization efforts.

Founded in 2019 by co-founders Ahmed Al Rawi and Moayed Al Moayed, Calo has quickly scaled into one of the world’s fastest-growing meal subscription services. Last year alone, the company delivered over 10 million meals and reported nine-figure annualized revenue. It now operates across Saudi Arabia, the UAE, Bahrain, Qatar, Kuwait—and recently launched operations in Oman. Calo’s European expansion is already underway through its acquisitions of UK-based brands Fresh Fitness Food and Detox Kitchen, which are now integrated into Calo’s tech and operational framework.

Calo is piloting Calo Black, an AI-powered “private chef” platform that uses large language models to understand customer preferences via natural dialogue and generate personalized daily menus. In addition to Calo Black, the company is embedding AI across its user interface and backend operations to enhance efficiency and scalability. Its product roadmap also includes athlete-focused macro meal plans, premium “Chef’s Picks” offerings, an expanded clean-eating line, on-demand delivery, and a future CPG product lineup.

Rawan AlRasheed, Lead Manager – Impact Lab at AlJazira Capital, applauded Calo as a “homegrown Saudi company with global ambition, combining brand, technology, and operational excellence,” expressing confidence in the team’s potential for a successful future.

Caroline Hazlehurst, previously a senior executive at Deliveroo UK & Ireland, Bird, and Moove, has been appointed as Chief Operating Officer. John Noja, formerly GM of Quick Commerce (UAE) at Talabat, joins as Chief of Staff.

A strategic partnership with premium fitness brand Armah Sports Company marks another milestone. Fahad Alhagbani, founder of Armah, has joined Calo’s board as an independent member. The collaboration explores co-located retail outlets, cross-promotional offers, and product distribution through Armah’s gym networks.