Middle Eastern foodtech startup Calo has secured US$25 million in its Series B round, led by Nuwa Capital, with investors Khwarizmi Ventures and STV.

The funding values the company at US$250 million.

Founded in 2019 by Ahmed Al Rawi, Calo operates in Saudi Arabia, the United Arab Emirates, Kuwait, Qatar, and Bahrain, offering tailored meal plans for dietary needs like weight loss and high protein diets, with meals averaging US$7 to US$9.

The new funds will improve meal customization, expand into dietary niches like muscle gain, and support the acquisition of a British food startup to extend reach by 2025.

Calo, which achieved nine-figure annualized revenues, plans to go public in 2025. Saudi Arabia accounts for 70% of its revenue, with the UAE contributing 15%.