Calo, a Middle Eastern startup specializing in ready-to-eat healthy meals, has secured $39 million in a Series B extension led by Aljazira Capital. The raise builds on $25 million closed in December, with support from Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group.
The company aims to use the fresh funds to expand into the U.K. and establish a broader retail presence.
Founder Ahmed Al Rawi said revenue has nearly doubled year-over-year, with more than 10 million meals delivered in Gulf states last year. Deliveries in 2024 are increasing at a similar rate.
Calo will face competition in Britain from major food delivery services and niche meal-box brands. It is also exploring global acquisitions and retail formats, plus a fitness-food bundle with Armah Sports Company.
