Pakistan-based startup Colabs secures $2 million in pre-Series A funding to expand its coworking space operations in Saudi Arabia.
In a significant move, Calo, a leading coworking and community-building platform, has announced its expansion into Saudi Arabia, backed by a $39 million Series B extension round. The investment brings Calo's total funding to over $5 million.
The funding round was led by Shorooq Partners and participated by Waad Investment, with strategic backing from AlJazira Capital. This investment underscores Calo's commitment to combining brand, technology, and operational excellence to drive sustainable impact aligned with Saudi Arabia’s national objectives.
Calo has experienced rapid growth, with over 50% year-over-year growth in the first half of 2025. The company currently operates more than 10 physical locations across the GCC region, including hospital-based outlets in Saudi Arabia, and plans to open new sites every quarter.
The expansion into Saudi Arabia is marked by a localized leadership approach, with General Managers appointed in each market to enhance customer understanding and accelerate growth. This strategy has contributed to the company's success in the region, particularly in the Saudi and GCC markets.
Calo's offerings in Saudi Arabia are set to include AI-driven initiatives, such as the AI-powered private chef "Calo Black" and healthy consumer packaged goods. The company's focus on health and wellness aligns with Saudi Arabia's goals, as emphasized by its partnership with AlJazira Capital.
Calo has also established initiatives like Pitch to Win and the Freelancer Fellowship program, which have been instrumental in fostering a vibrant startup ecosystem. Global corporations like EY, Endeavour, and Coca-Cola are among Calo's clients.
The expansion into Saudi Arabia is part of a broader trend of integrating technology and cultural enterprises in line with Saudi Vision 2030. Other companies like Rebellions (a Korean AI chipmaker) and CJ ENM (Korean entertainment) are also making notable expansions into the region.
Omar Shah, co-founder and CEO of Calo, commented on the investment, expressing excitement about expanding into the MENA market, particularly Saudi Arabia. Calo has also partnered with over 250 ecosystem enablers, including Google Cloud, AWS, Redbull, and Spotify, further solidifying its position in the industry.
References: 1. Calo raises $39 million Series B extension to boost global growth 2. Rebellions establishes subsidiary in Saudi Arabia to meet rising AI demand 3. CJ ENM sets up subsidiary in Saudi Arabia to leverage burgeoning entertainment market
Technology plays a crucial role in Calo's growth, with AI-driven initiatives such as the AI-powered private chef "Calo Black" and healthy consumer packaged goods set to be offered in Saudi Arabia. This expansion into the Saudi Arabian market is part of a broader trend of integrating technology and cultural enterprises in line with Saudi Vision 2030.
