We are thrilled to announce our participation in Calo’s $25 million Series B round, alongside Nuwa Capital and Khwarizmi Ventures. As one of the largest investors, we continue to support Calo, the Middle East’s leading meal subscription foodtech startup, on its journey to revolutionize healthy eating.
Calo’s journey has been remarkable. Founded in late 2019 by Ahmed Alrawi, with Moayed Almoayed joining as co-founder, the company has delivered over 10 million meals, achieved nine-figure annualized revenue, and maintained 100% CAGR from 2020 to 2024. Operating across Saudi Arabia, the UAE, Bahrain, Qatar, and Kuwait, Calo’s personalized meal plans make healthy eating convenient and accessible, catering to a wide range of dietary needs.
This latest funding will empower Calo to solidify its leadership in the GCC, expand AI-driven personalization, launch innovative new products, and expand into retail and global markets. With its first acquisition planned for early 2025 and key strategic hires on the horizon, Calo is preparing for an accelerated growth phase leading up to an IPO in Saudi Arabia.
Our investment in Calo stems from our confidence in Ahmed and his customer-first approach, combined with operational excellence. By leveraging a tech-driven, vertically integrated model, Calo has achieved rapid growth and healthy margins while addressing diverse lifestyles across the region.
With the $500 billion quick-service restaurant market continuing to expand, Calo’s ambition to rank among the top 10 global food brands is well within reach. We’re proud to support Ahmed and the entire Calo team as they reshape the future of healthy eating on a global scale.
Busy? Try Calo here