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

Bahrain-headquartered Calo announced Tuesday it has raised $39 million in a Series B extension, surpassing its December raise of $25 million. The round was led by Aljazira Capital with support from Nuwa Capital, STV, Khwarizmi Ventures, and Al Faisaliah Group.

The healthy meal delivery startup will direct the funds toward a U.K. market entry and building partnerships in physical spaces. Calo provides heat-and-eat meals tailored to fitness and dietary needs.

Founder Ahmed Al Rawi told TechCrunch revenue rose nearly 100% last year, with more than 10 million meals delivered in Gulf Cooperation Council countries. This year’s growth in deliveries mirrors revenue increases.

In the U.K., Calo will face competitors from mainstream delivery apps to specialized meal-kit companies. The firm is also pursuing acquisitions and retail expansion, and has teamed with Armah Sports Company in Saudi Arabia to pair meals with gym memberships.