{"id":38198,"date":"2024-12-31T15:48:37","date_gmt":"2024-12-31T12:48:37","guid":{"rendered":"https:\/\/entarabi.com\/?p=38198"},"modified":"2024-12-31T15:58:21","modified_gmt":"2024-12-31T12:58:21","slug":"calo-secures-25-million-series-b-funding-and-targets-saudi-ipo-by-2027","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2024\/12\/calo-secures-25-million-series-b-funding-and-targets-saudi-ipo-by-2027\/","title":{"rendered":"Calo Secures $25 Million Series B Funding and Targets Saudi IPO by 2027"},"content":{"rendered":"

Riyadh, Saudi Arabia<\/strong> \u2013 Calo, the Middle East\u2019s food tech startup focused on personalized meal subscriptions, has announced the successful completion of its $25 million Series B funding round<\/strong>. Led by Nuwa Capital<\/strong>, with participation from STV<\/strong>, Khwarizmi Ventures<\/strong>, and several regional family offices, the funding underscores investor confidence in Calo\u2019s innovative approach to healthy eating.<\/p>\n

Founded in Bahrain in 2019<\/strong> by Ahmed Alrawi<\/strong> and later joined by Moayed Almoayed<\/strong>, Calo has rapidly emerged as a leader in the direct-to-consumer (D2C) food tech space<\/strong>, serving health-conscious customers across the Kingdom of Saudi Arabia, United Arab Emirates, Bahrain, Qatar, and Kuwait<\/strong>. With ambitious plans for a Saudi IPO by 2027<\/strong>, the company aims to further revolutionise the healthy meal industry.<\/p>\n

Transforming Healthy Eating<\/strong><\/h3>\n

Calo has positioned itself as the world\u2019s fastest-growing meal subscription service<\/strong>, achieving a 100% CAGR<\/strong> over the past five years (2020\u20132024). The company\u2019s nine-figure annualized revenue reflects its commitment to solving a significant gap in the global quick-service restaurant market, currently valued at over $500 billion<\/strong>.<\/p>\n

Ahmed Alrawi<\/strong>, Founder and CEO of Calo, stated:<\/p>\n

\u201cIt\u2019s been truly a privilege to be \u2018making healthy easy\u2019 for hundreds of thousands of customers. Being based in Saudi inspires us to think big and be ambitious. The top 10 food brands globally generate $300 billion annually, yet none of them address the health problem. We bet that in the next decade, a healthy food brand will climb to the top 10 list, and we aim to be that brand, leveraging technology and innovation at our core.\u201d<\/p><\/blockquote>\n

Calo\u2019s personalized meal plans cater to individual fitness goals and dietary preferences, using advanced technology to deliver over 10 million meals<\/strong> in 2024 alone<\/strong>. The service is particularly relevant as obesity and lifestyle-related diseases continue to rise in the region and globally.<\/p>\n

Expanding Horizons<\/strong><\/h3>\n

Building on its Series B success, Calo is setting ambitious goals to:<\/p>\n

    \n
  1. Enhance AI-driven personalization<\/strong> to improve customer experience.<\/li>\n
  2. Expand product offerings<\/strong>, including new meal categories and complementary products.<\/li>\n
  3. Grow into adjacent business lines<\/strong>, such as retail, with existing physical locations generating seven-figure revenues<\/strong>.<\/li>\n
  4. Pursue global expansion<\/strong> through mergers and acquisitions, with the first acquisition planned for Q1 2025<\/strong>.<\/li>\n
  5. Strengthen leadership<\/strong> by hiring strategic roles to navigate its accelerated growth phase and prepare for the IPO journey.<\/li>\n<\/ol>\n

    Investor Confidence<\/strong><\/h3>\n

    The oversubscription of the Series B round has prompted Calo to extend it to $50 million<\/strong>, with an additional $25 million<\/strong> targeted for Q1 2025.<\/p>\n

    Khaled Talhouni<\/strong>, Managing Partner at Nuwa Capital, expressed confidence in Calo\u2019s vision:<\/p>\n

    \u201cCalo is reimagining how the world adopts healthy lifestyles by being customer-obsessed and solving overlooked problems. We are excited to continue supporting Ahmed\u2019s vision and Calo\u2019s consistent growth across geographies.\u201d<\/p><\/blockquote>\n

    Calo\u2019s past funding includes $26 million<\/strong> from investors such as Vision Ventures<\/strong>, 500 Startups<\/strong>, Savour Ventures<\/strong>, and Nama Ventures<\/strong>.<\/p>\n

    IPO and Beyond<\/strong><\/h3>\n

    With plans for an IPO in Saudi Arabia by 2027<\/strong>, Calo is charting a clear path to become a global leader in the healthy food sector. The company\u2019s dedication to innovation, combined with its robust financial backing, positions it to redefine how the world approaches healthy eating.<\/p>\n

    As Calo continues its journey, it remains committed to its mission of making healthy eating accessible, leveraging cutting-edge technology, and delivering exceptional customer experiences across the GCC and beyond.<\/p>\n","protected":false},"excerpt":{"rendered":"

    Riyadh, Saudi Arabia \u2013 Calo, the Middle East\u2019s food tech startup focused on personalized meal subscriptions, has announced the successful completion of its $25 million Series B funding round. Led by Nuwa Capital, with participation from STV, Khwarizmi Ventures, and several regional family offices, the funding underscores investor confidence in Calo\u2019s innovative approach to healthy […]<\/p>\n","protected":false},"author":37,"featured_media":38196,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1810],"tags":[6555],"class_list":["post-38198","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech","tag-calo"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/38198","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/37"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=38198"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/38198\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/38196"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=38198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=38198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=38198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}