Bahrain-based foodtech startup Calo raises $13M in pre-Series A funding
Calo, which offers meals on subscription, has raised $13 million in pre-series A funding co-led by STV and Nuwa Capital.
Bahrain-based foodtech startup has raised $13 million in a Pre-Series A funding round co-led by STV and Nuwa Capital. The round also saw participation from Al Rajhi Family Office, Khwarizmi Ventures, Al Faisaliah Group and others.
Including the latest round, Calo has raised $26.5 million in funding so far.
The startup will use the fresh capital to increase its presence in the GCC market and explore new opportunities for both international and regional expansions. It is also looking to serve new categories. Calo, which currently operates in Bahrain and Saudi Arabia, has expanded into Kuwait and UAE.
The startup was founded in 2019 by Moayed Almoayed Alwari. It offers personalised meal subscription plans to consumers based on their individual personal goals. The foodtech sector in MENA is seeing rapid growth, according to a Forbes Middle East report. Other startups in the ecosystem such as Kitopi OneOrder have recently raised funds for growth.
In a statement shared by the company, Alwari said, "We’re delivering millions of meals per year and have consistently been quadrupling in growth year over year, we expect that this trend continues over the next few years as the wellness wave continues to grow."
Edited by Affirunisa Kankudti