CAIRO:   Bahrain-based startup Calo secured $13 million in a pre-series A funding round co-led by venture capital firms Nuwa Capital and STV.

Established in 2019, Calo is a foodtech company that serves personalized meal subscriptions for busy people through its healthy and rotating menu of over 500 options.

Operating in Saudi Arabia, Bahrain, the UAE, and Kuwait, the company plans in order to utilize its funding to double down on existing markets while exploring opportunities for regional expansion.

Calo has recently announced the expansion into Jeddah plus Dammam in Saudi Arabia and other cities in the UAE and Kuwait.

“We’re delivering millions associated with meals per year and have consistently been quadrupling within growth year over 12 months. We foresee this trend continuing over the next few years as the wellness wave continues in order to grow, ” said Ahmed Alrawi, CEO of Calo, in a press statement.

The company has almost 700 employees worldwide and has raised $26. 5 million since its inception.

The funding round saw participation from Khwarizmi Ventures, Al Faisaliah Group, AlRajhi Family Office and other investors.

The Morni show in Egypt

Saudi Arabia-based mobility solutions company Morni has announced the $10 million investment that will targets new acquisitions in Egypt’s flexibility space.

The particular company offers partnered with acquisition and mergers advisory firm Exists. me with an agreement set to run until 2023.

Established within 2019, Calo is a foodtech organization that serves personalized meal subscriptions with regard to busy people.

“The Egyptian market will be a worthwhile new addition as we start multiple upcoming deals, plus will get us closer to our goal to cover 100 mil vehicles along with our products by 2030, ” Shehail Alshehail, managing director of Morni, said in the statement.

Founded in 2015, Morni will be a super app regarding mobility solutions that offer towing and roadside assistance services while providing logistics options intended for vehicles in emergencies.

The company provides over 2 million downloads and 1 . 2 million customers and it has raised $14. 7 mil in total funding.

Order associated with the week

Egypt’s B2B marketplace OneOrder last week raised $3 million inside a seed financing round led by Nclude after raising $1 million in February 2022.

Launched this year, the company connects restaurants to suppliers by utilizing its proprietary technology to improve the supply chain.

Since its launch, the firm has elevated $10. five million inside funding with investors like Egypt’s A15.

“We are delighted simply by the level of adoption plus growth we have recorded over the past year, which is a testament in order to the fact that we are addressing a huge unmet demand in our region, ” stated Tamer Amer, co-founder and CEO OneOrder.

“Asides through improving efficiency, we are reducing costs plus impacting restaurants’ bottom lines by saving them time through operational efficiency and money via improved purchasing power plus economies of scale, ” he added.

OneOrder has up to 600 stock-keeping units and recently partnered along with financial technology provider Paymob.

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