Calo Secures $25 Million in Series B Funding, Aiming for Saudi IPO by 2027 Amid Bold Global Ambitions

In the ever-evolving landscape of Middle Eastern startups, every so often, a company emerges that genuinely excites industry watchers—and Calo is undeniably one of them. The Bahrain-born food-tech startup has just announced a remarkable $25 million Series B funding round, a triumph led by Nuwa Capital with solid backing from STV, Khwarizmi Ventures, and esteemed regional family offices.

The buzz in 2019 when CEO Ahmed Alrawi and co-founder Moayed Almoayed launched Calo with a simple yet powerful mission—to make healthy eating effortless and personalized—was unforgettable. Fast forward to today, and it is incredible to see how that vision has transformed into a thriving operation across Saudi Arabia, the UAE, Bahrain, Qatar, and Kuwait. Over 10 million meals were delivered in 2024 alone—a testament to their impact on the daily lives of countless individuals seeking convenient, nutritious options.

What sets Calo apart is its savvy use of AI to tailor meal plans to individual fitness goals and dietary preferences. It's not just about food delivery; it's about crafting a personalized experience that resonates with each customer. With this fresh infusion of capital, the company is not resting on its laurels. Plans are afoot to enhance AI-driven personalization even further, roll out exciting new products, and delve into the retail space. Their foray into physical locations has already seen impressive success, with five outlets generating seven-figure revenues—a clear sign that they're striking the right chord with consumers.

But Calo's ambitions don't stop at regional dominance. In a move that has particularly intrigued industry observers, the company is gearing up for international expansion via mergers and acquisitions. The first of these is slated for the first quarter of 2025, and it will be fascinating to see which markets they tap into next. It's bold moves like these that make the startup scene so dynamic and unpredictable.

Perhaps the most audacious goal set by Calo is aiming for an initial public offering (IPO) in Saudi Arabia by 2027. It's a confident stride that speaks volumes about their growth trajectory and the belief they have in their model. "Being in Saudi, we're inspired to think big and be ambitious," CEO Ahmed Alrawi shared with palpable enthusiasm. "There's no reason why we can't export innovation from the region to the rest of the world. The top 10 food brands globally earn $300 billion a year, none of which are solving the health problem. We bet that in the next 10 years, there will be a healthy brand that climbs to the top 10 list, and we aspire to be that brand, having tech and innovation in our DNA from day one."

Statements like these capture the spirit of entrepreneurship that's buzzing in the Middle East right now. There's a palpable sense of possibility, a feeling that startups like Calo aren't just participants in the market but are shaping its future. Their journey has been impressive so far, backed by earlier investments totaling $26 million from heavyweights like Vision Ventures, 500 Startups, Savour Ventures, Nama Ventures, and other angel investors.

As an editorial team closely following the region's tech and startup ecosystem, Calo's story is a shining example of what's possible when innovation meets determination. Their focus on addressing real health challenges through technology is not just smart business—it's making a meaningful difference in people's lives. There is a sense of pride and excitement in seeing a homegrown company reach for the stars and inspire others along the way.

In an industry often dominated by global giants, Calo's rise is a refreshing reminder that the Middle East is fertile ground for disruptive ideas and bold ventures. Watching Calo's journey unfold suggests that this is just the beginning of something truly extraordinary.