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Food delivery service Calo scores $39 million in Series B extension as it setseyes on the UK
Middle Eastern food delivery startup Calo raised $39 million in a Series B extension to expand into the UK and explore partnerships. With a revenue increase of nearly 100%, Calo has delivered over 10 million meals in the region. The company has acquired two UK meal delivery services and aims to enhance its tech and branding while targeting significant revenue growth in the UK market.
Key points
- Calo raised $39 million in Series B extension led by AlJazira Capital.
- The funding is 1.5x its previous $25 million raise in December.
- Calo plans to expand operations into the UK and has acquired Fresh Fitness Food and Detox Kitchen.
- Revenue grew by 'close to 100%' as over 10 million meals were delivered last year.
- Calo aims to 10x its UK revenue in the next three years despite facing competition from existing delivery giants.
- The startup integrates technology without lay-offs, enabling smooth operations in the UK market.
Why it matters
- Calo's expansion coincides with increased consumer demand for meal delivery and healthy eating options in the post-pandemic landscape.
- 2025 IT Trends highlight the rise of healthtech and foodtech sectors, aligning with Calo's model.
- Historically, the food delivery market has seen a surge with the entry of subscription models, a trend that Calo is leveraging.
Calo's strategic funding and expansion illustrate a significant growth trajectory in the competitive meal delivery industry, particularly in health-focused services, marking a notable shift in consumer preferences and market dynamics.