Food delivery service Calo scores $39M in Series B extension as it sets eyes on the UK

Calo, the Middle Eastern food delivery service specializing in pre-prepared healthy meals, has secured $39 million in a Series B extension. The round, led by Aljazira Capital, builds on the $25 million raised in December and included returning investors Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group.

With the funding, Calo will target the U.K. for expansion and invest in partnerships that extend into physical retail. The company’s model delivers ready-to-heat meals as part of personalized nutrition plans.

CEO Ahmed Al Rawi said revenue growth is approaching 100% year-over-year, with over 10 million meals delivered in Gulf markets last year. Deliveries in 2024 are on track to match revenue trends.

Calo’s U.K. ambitions place it against established brands like Just Eat, Deliveroo, Gousto, and Wicked Kitchen. Plans also include acquiring meal-kit services in new markets, opening retail locations, and bundling food services with Armah Sports Company’s gyms.