{"id":1973,"date":"2024-12-31T07:04:21","date_gmt":"2024-12-31T07:04:21","guid":{"rendered":"https:\/\/pkfin.kotenterprises.dev\/?p=1973"},"modified":"2024-12-31T07:04:21","modified_gmt":"2024-12-31T07:04:21","slug":"saudi-meal-subscription-startup-calo-raises-25-million-series-b-eying-saudi-ipo-by-2027","status":"publish","type":"post","link":"https:\/\/pkfin.kotenterprises.dev\/?p=1973","title":{"rendered":"Saudi meal subscription startup Calo Raises $25 million Series B eying Saudi IPO by 2027"},"content":{"rendered":"

Riyadh-based foodtech startup\u00a0Calo<\/a>, the Middle East\u2019s largest personalised meal subscription service, has announced raising SAR 94 million ($25 million) in its Series B funding round. The round was led by\u00a0Nuwa Capital,<\/a>\u00a0with participation from STV, Khwarizmi Ventures, and regional family offices. This oversubscribed round underscores strong investor confidence, prompting Calo to extend its Series B to $50 million, with an additional $25 million planned for Q1 2025.<\/p>\n

Global Ambitions from Saudi Roots<\/strong><\/p>\n

Founded in late 2019 by Ahmed Alrawi, who was later joined by co-founder Moayed Almoayed, Calo has rapidly grown into the world\u2019s fastest-growing meal subscription service. Recording a nine-figure annualised revenue with over 100% CAGR since its inception, the company aims to position itself as a global leader in healthy eating solutions.<\/p>\n

\u201cBeing in Saudi, we\u2019re inspired to think big and be ambitious. There\u2019s no reason why we can\u2019t export innovation from the region to the rest of the world,\u201d said Ahmed Alrawi, Founder and CEO of Calo. \u201cWe aspire to become one of the top 10 global food brands solving the health problem.\u201d<\/p>\n

Solving an Overlooked Problem<\/strong><\/p>\n

Calo\u2019s mission to \u201cmake healthy easy\u201d comes at a critical time as obesity and lifestyle-related diseases rise globally. The company offers personalised meal plans tailored to individual fitness goals and dietary preferences, using cutting-edge technology to deliver over 10 million meals in 2024 alone.<\/p>\n

Khaled Talhouni, Managing Partner at Nuwa Capital, praised Calo\u2019s innovative approach: \u201cCalo is reimagining how the world adopts healthy lifestyles by being customer-obsessed and creating products that truly solve the problem. We are excited to support Calo in building a category-leading technology business.\u201d<\/p>\n

Future Growth and Expansion Plans<\/strong><\/p>\n

With fresh funding, Calo plans to solidify its leadership in the GCC\u2019s meal subscription market, enhancing personalisation through AI and expanding its product offerings. The company has already ventured into retail, launching five physical locations generating seven-figure revenues.<\/p>\n

Calo also has ambitious global expansion plans, including mergers and acquisitions, with its first acquisition expected to close in Q1 2025. Additionally, the company is preparing for an IPO in Saudi Arabia by 2027, supported by strategic hires in leadership roles.<\/p>\n

Track Record of Success<\/strong><\/p>\n

To date, Calo has raised $26 million from prominent investors, including Vision Ventures, 500 Startups, Savour Ventures, and Nama Ventures. The company operates in Saudi Arabia, the UAE, Bahrain, Qatar, and Kuwait, serving hundreds of thousands of customers across the region.<\/p>\n

This funding milestone positions Calo to continue reshaping the healthy eating landscape in the Middle East and beyond, leveraging technology and innovation to address the global health crisis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Riyadh-based foodtech startup Calo, the Middle East’s largest personalised meal subscription service, has announced raising SAR 94 million ($25 million) in its Series B funding round. The round was led by Nuwa Capital, with participation from STV, Khwarizmi Ventures, and regional family offices. This oversubscribed round underscores strong investor confidence, prompting Calo to extend its Series B to […]<\/p>\n","protected":false},"author":1,"featured_media":1974,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1],"tags":[1184,402,1185,590,927],"class_list":["post","format-standard"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t