Calo Secures $39M Series B Extension for UK Expansion

Food delivery service Calo secured $39 million in a Series B extension round, led by AlJazira Capital.

The funding round also saw participation from existing backers, including Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group. Calo will use this capital to expand into the UK market. The company also plans to explore new partnerships in physical retail spaces.

Fueling Global Food Delivery Growth

Calo primarily offers ready-to-eat meals tailored for various health goals. Customers can heat these meals later. The company delivered over 10 million meals last year across Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain.

Calo acquired two UK meal delivery services, Fresh Fitness Food and Detox Kitchen, last year. The startup completed technology and process integration in July. Calo now delivers meals daily in London and multiple times weekly across other UK regions. The company targets a tenfold revenue increase in the UK within three years.

The Saudi company also seeks to acquire other meal kits services globally. It plans to expand physical locations, including retail stores and kiosks. Calo faces competition in the UK from established players like Just Eat and Deliveroo. The company also partnered with Armah Sports Company, a Saudi gym chain, to offer bundled subscriptions.