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

Bahrain-based Calo said Tuesday it has raised $39 million in a Series B extension led by Aljazira Capital, topping its previous $25 million round from December. Investors Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group also participated.

The company, known for delivering ready-to-eat, health-oriented meals, plans to channel the funding into U.K. expansion and brick-and-mortar partnerships. Calo offers customized meal plans to match different fitness and nutrition goals.

Founder Ahmed Al Rawi reported that revenue has nearly doubled year-over-year, with over 10 million meals shipped last year in Saudi Arabia, the UAE, Kuwait, Qatar, and Bahrain. This year’s growth is tracking at a similar pace.

The U.K. market entry will bring competition from delivery heavyweights and meal-box specialists. Calo is also eyeing acquisitions abroad and increasing physical presence with kiosks and retail spaces, alongside a gym membership bundle through Armah Sports Company.