Calo Raises $64M, Eyes Global Expansion & IPO by 2027

Calo, a Saudi Arabia-based foodtech startup known for its subscription-based meal service, has raised $64 million in a Series B funding round, marking a pivotal moment in its journey toward global expansion and a planned IPO by 2027.

The round was led by Nuwa Capital, Saudi Technology Ventures (STV), and AlJazira Capital, with the new capital aimed at diversifying Calo’s offerings and strengthening its infrastructure. The company plans to launch a range of frozen meals and long shelf-life snacks targeted at the retail segment, tapping into new revenue streams beyond direct-to-consumer subscriptions. Calo also intends to enhance its on-demand delivery capabilities by building dark kitchens and potentially its own logistics network to support growth across markets.

Key Highlights

• Calo raises $64M in Series B funding round led by Nuwa Capital, STV, and AlJazira Capital
• Plans global expansion and targets IPO by 2027
• Will launch frozen meals, long shelf-life snacks, and expand logistics infrastructure

Founded in Saudi Arabia, Calo currently operates in six Gulf countries—Saudi Arabia, UAE, Bahrain, Qatar, Kuwait, and Oman—and recently expanded into the UK market through the acquisition of Fresh Fitness Food and Detox Kitchen, both known for premium health-focused meal services.

“Calo’s goal has always been to make healthy eating accessible, and this funding allows us to push that mission further on a global scale,” said the company in a statement.

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The company’s Series B comes amid growing investor interest in nutrition-tech and wellness-focused food services across emerging and developed markets alike. With strategic acquisitions, new product lines, and infrastructure scale-up in progress, Calo is positioning itself as a global player in the evolving foodtech landscape.