A Middle Eastern startup, Calo, specializing in customized ready-to-eat meals, has received significant funding to expand its offerings and delivery locations to cater to time-strapped customers.
The Middle East’s meal delivery market is projected to reach $11.2 billion by 2030, according to a report by MarkNtel Advisors. Companies like Careem, Deliveroo, and Talabat have capitalized on the trend of professionals opting for food delivery over cooking, accelerated by the COVID-19 pandemic.
Calo, based in Riyadh, stands out by offering meal subscriptions tailored to specific needs such as weight loss, high protein intake, and balanced meals. The startup aims to further customize its offerings for individuals seeking specific nutritional requirements, including muscle gain, diabetes, IBS, and PCOS.
With plans for global expansion, Calo recently secured $25 million in Series B funding led by Nuwa Capital, Khwarizm Ventures, and STV, all of whom are repeat investors. The company’s valuation is now estimated at around $250 million.
Operating in multiple Middle Eastern countries, Calo allows users to select healthier ready meals for various meals and snacks, with customization options like meal types, plans, and dietary preferences. The startup has served 10 million meals this year, with meal costs averaging between $7 and $9.
Looking ahead, Calo aims to enhance meal personalization by allowing users to specify protein, carbs, and fats in their meals, and explore new business models like retail kiosks and on-demand delivery services.
While Saudi Arabia contributes 70% of Calo’s revenues currently, the company anticipates significant growth in the UAE. Calo has achieved nine-figure annual revenue this year and is on track to reach profitability by next year.
Founder Ahmed Al Rawi started Calo in Bahrain in 2019, recognizing an unmet need for personalized meal delivery services. The company’s efficient operations and customer-centric approach have driven its success in the region.
