Calo raises USD 13 million in pre-Series A round

Calo, a Bahrain-based foodtech, raises USD 13 million from regional investors, bringing to investment to date to USD 26.5 million.

Calo, a Bahrain-based foodtech, has raised USD 13 million in pre-Series A round with regional investors including Nuwa Capital, STV, Khwarizmi Ventures, Al Faisaliah Group and AlRajhi Family Office. This latest round brings the company’s total investment to date to USD 26.5 million following a Seed round last year.

Calo: Personalized meals

Calo provides personalized meal subscriptions, catered towards fitness or lifestyle goals. Customers receive their meals on a daily basis and can choose from a rotating menu of over 500 options. The company positions itself as customer-centric and claims to gain most of its “tens of thousands” of customers through word of mouth. Calo currently operates in Saudi Arabia, Bahrain, the UAE, and Kuwait.

The company was founded in 2019 by Ahmed AlRawi and Moayed Almoayed and currently employs nearly 700 people. The new funds will be used to expand within the GCC, to serve new categories and to explore opportunities for regional and global expansion.

“Millions of meals per year”

Ahmed Alrawi, CEO of Calo, said, “We’re delivering millions of meals per year and have consistently been quadrupling in growth year over year. We foresee that this trend continues over the next few years as the wellness wave continues to grow.”

Nitin Reen, a partner at Nuwa Capital, said, “The team at Calo has mastered the ability to hone the fundamentals while continuing to innovate within the realm of foodtech.  However, what truly makes Calo special is that they maintain an unrelenting focus on their customers in their journey to a healthy lifestyle.  We have a strong belief in the founders and their traction and ability to recruit a very special team, in such a short time, which is a testament to their capabilities and vision. We are very excited to partner with Calo in their next chapter of growth and have every confidence that the team will continue to succeed.”

Calo’s vertically integrated model allows the company to serve its customers a high-quality personalized experience while maintaining healthy margins, making the company’s business units very profitable.

“Today, there’s no global leader in the personalized nutrition space. We believe we can be that company. The biggest food companies in the world serve food that’s good for your taste buds, but terrible for your body. We’re on a mission to change that,” said Alrawi.

Foodtech and agritech are growing markets in the MENA region and Africa.