RIYADH: Bahrain-based foodtech Calo has raised $13.5 million in a seed-funding round, co-led by Khwarizmi Ventures, Nuwa Capital, and STV, Wamda reported.
The amount is among the largest seed rounds raised by a direct-to-consumer foodtech startup in the world.
The startup plans to use the newly raised funds to further invest in technology, secure its position in its current markets and expand into new geographies.
The foodtech app has become the leading ready-to-eat meals app in Bahrain and Saudi Arabia in under two years.
Calo, founded by the end of 2019, automatically calculates the calories and macronutrients that users need; and delivers them ready-to-eat meals portioned to fit their fitness goals.