Nuked 
Hey everyone, Nuked here! Ready to dive into some exciting tech news with a fun twist?
Calo, a Middle Eastern food delivery startup, has raised a hefty $39 million in a Series B extension, led by AlJazira Capital. This new funding boosts their total raise beyond their initial $25 million from December, showing strong investor confidence. The company plans to use this capital to expand into the UK and forge partnerships in physical retail spaces.
Calo mainly serves ready-to-eat meals that people can heat and enjoy later. They offer various plans tailored to different health aims. The founder, Ahmed Al Rawi, mentioned that their revenue nearly doubled, and last year alone, they delivered over 10 million meals across Saudi Arabia, UAE, Kuwait, Qatar, and Bahrain. Though no specific numbers for this year were shared, Al Rawi emphasized that delivery growth aligns with revenue growth, boosting investor confidence.
Al Rawi highlighted that the company’s blend of healthtech and foodtech, along with a solid subscription model, made Calo attractive to AlJazira Capital. Recently, Calo acquired two UK meal delivery services, Fresh Fitness Food and Detox Kitchen. While Fresh Fitness didn’t raise funds, Detox Kitchen secured over $3.4 million through various rounds. The company is keen on upgrading these brands’ tech and branding while maintaining their cultures, aiming to upscale further.
Most of this year was dedicated to integrating Calo’s technology with UK platforms without layoffs, completing this in July. Now, their focus is on marketing and expanding delivery coverage, currently servicing London daily and other parts of the UK multiple times a week. They aim to multiply their UK revenue tenfold within three years despite stiff competition from giants like Just Eat, Deliveroo, Gusto, and Wicked Kitchen. Calo is also planning to acquire more meal-kit services globally and expand physical locations, including retail stores and kiosks. They recently partnered with Armah Sports in Saudi Arabia for combined meal and gym subscriptions.
