Mahmood Ali Zainal Announced as the First Luxury Villa Winner in NBB's Thara'a June Prize
NBB invites everyone to start their financial savings journey and win exciting rewards with the Thara'a Prize Account. Customers can open their accounts through the NBB Digital Banking App, by visiting any of the Bank's branches, logging on to nbbonline.com, or calling 1721 4433.
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4 days ago
- Wamda
Calo raises $39 milliion Series B extension to boost global growth
Calo, the Saudi Arabia-headquartered foodtech startup, secured $39 million in a Series B extension led by AlJazira Capital, bringing its total Series B raise to $64 million after a $25 million round in 2024 led by Nuwa Capital. The extension was oversubscribed. Existing backers Nuwa Capital, STV, Al Faisaliah Group, and Khwarizmi Ventures joined again, with new investor Oraseya Capital. Founded in Bahrain in 2019 by Ahmed Al Rawi and Moayed Al Moayed, Calo is a direct-to-consumer (D2C) foodtech that provides personalised meal subscriptions to a growing base of health-conscious customers. Calo recently acquired UK-based Fresh Fitness Food and Detox Kitchen, integrated them into its stack, and is on track for a planned IPO in Saudi Arabia. Funds will fuel Calo's global expansion and AI-powered personalisation efforts. Press release: Calo, the Middle East's largest foodtech startup, revolutionising personalised meal subscriptions, today announced it has raised $39 million (SAR 146.27 million) in a Series B extension round led by AlJazira Capital. The raise brings Calo's total Series B round to $64 million (SAR 240 million), following an initial $25 million tranche in December 2024. Existing investors Nuwa Capital, who led the initial $25 million Series B tranche, STV, Khwarizmi Ventures, and Al Faisaliah Group returned to participate in the extension, with Oraseya Capital joining the round. Following overwhelming investor interest, the round was oversubscribed beyond the originally targeted $50 million to support global growth, product expansion, and the integration of newly acquired businesses in the United Kingdom. With over 10 million meals delivered last year, Calo is the world's fastest-growing meal subscription service, recording a high-growth nine-figure annualised revenue ($ million). Calo recently completed the acquisition of two leading UK-based meal subscription brands, Fresh Fitness Food and Detox Kitchen, marking a strategic entry into the European market. Both brands have now been integrated into Calo's operations and technology infrastructure as part of the company's plan to scale internationally. 'We are humbled by the tremendous interest we've seen from both existing and new investors to double down on Calo. We're living in an interesting time where AI is transforming our lives, and we're excited to be investing in cutting-edge innovation to explore how Calo can use AI to influence the future of how we discover and eat healthy food. Being vertically integrated with the mission of 'Making Healthy Easy' gives us an edge to develop and scale world-class experiences not just regionally, but also globally,' said Ahmed Al Rawi, co-founder & CEO of Calo. In the first half of 2025, Calo grew over 50 percent year-over-year, driven by strong market performance across Saudi Arabia, the UAE, and Kuwait. Over the past 12 months, Calo has localised operations by appointing General Managers in each market, improving customer understanding and accelerating growth. The company now operates more than 10 physical locations across the GCC, including hospital-based outlets, and is on track to open new sites every quarter. Calo's product roadmap continues to evolve. Recent segment expansions include athlete-targeted macro personalisation, premium 'Chef's Picks' meals for lifestyle-focused customers, and expanded clean-eating offerings. On the model side, Calo is moving into on-demand delivery and will soon launch its own line of healthy CPG products under the mission of 'making healthy easy.' The company is piloting Calo Black, an AI-powered private chef experience. The product leverages large language models (LLMs) to capture nuanced customer preferences through natural conversation and generate personalised daily menus. Calo is embedding AI across user interaction and operational workflows to improve efficiency, scale personalisation, and unlock new formats for customer experience. 'We are excited to lead Calo's Series B extension round and support Calo in their business ambitions,' said Rawan AlRasheed, Lead Manager – Impact Lab at AlJazira Capital. 'Calo is a homegrown Saudi company with global ambition, combining brand, technology, and operational excellence. We are confident in the team's ability to lead the company to a successful and prosperous future. The transaction marks Aljazira Capital commitment to enable local and regional business ventures that drive meaningful change and to create a positive sustainable impact in health and wellness in line with our country's objectives.' As the company scales globally, Calo has appointed Caroline Hazlehurst as Chief Operating Officer. Caroline has held various senior executive roles supporting startups to scale operations globally, including as the first General Manager at Deliveroo UK & Ireland, VP at Bird and also President at Moove. John Noja has been appointed as Chief of Staff, from Talabat, where he was GM of its quick commerce unit. Calo recently announced a strategic partnership with premium gym operator Armah Sports Company, unlocking new wellness and retail collaborations. Armah's founder, Fahad Alhagbani, has also joined the company's board as an independent member, building on his experience of taking two businesses public. As part of the partnership, Calo will explore co-located retail outlets, cross-promotional offers, and distribution of products through gym networks. Calo remains headquartered in Riyadh and is on track for a planned IPO in Saudi Arabia. The company currently operates in the Kingdom of Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, and Kuwait, with UK operations now underway. The company has also launched in Oman with over 5,000 customers on the waiting list. In 2024, Calo delivered 10 million meals across the GCC, reinforcing growing demand for data-driven, personalised nutrition.

Al Bawaba
24-07-2025
- Al Bawaba
NBB Collaborates with the Ministry of Youth Affairs to Support the Youth City 2030 Programme
The National Bank of Bahrain (NBB) has announced its collaboration with the Ministry of Youth Affairs as a major sponsor of the 14th edition of the 'Youth City 2030' programme. The sponsorship is part of the Bank's ongoing endeavours to support national youth empowerment projects by partnering with key government stakeholders. Organised by the Ministry of Youth Affairs with Tamkeen as the strategic partner, Youth City 2030 is one of the Kingdom's leading summer training platforms that prepare young Bahrainis for future employment through diverse upskilling opportunities. Commenting on the occasion, Her Excellency Ms. Rawan bint Najeeb Tawfeeqi, Minister of Youth Affairs, expressed her pride in the partnership with NBB, highlighting that it forms part of the Ministry's continued efforts to expand cooperation with private sector institutions towards opportunities that empower Bahraini Excellency further stated, 'This partnership bridges the Ministry's vision with NBB's commitment to supporting our youth. The Bank's contribution to Youth City 2030 adds profound value to the programme as it enhances the quality of its outcomes and helps prepare a new generation of skilled, creative, and competitive professionals.' For his part, Usman Ahmed, Group Chief Executive Officer of NBB, emphasised that the partnership with the Ministry reflects the emphasis the Bank places on its social responsibility mandate, with youth-related initiatives being central to its priorities. He added, 'We believe that investing in the potential of Bahraini youth is the foundation of national progress. We are proud to support Youth City 2030, which serves as a leading model for comprehensive education and capacity building. Our involvement aligns with NBB's organisational vision to contribute meaningfully to the Kingdom's broader developmental ambitions by empowering future industry leaders and entrepreneurs.' This collaborative agreement is part of a series of initiatives aimed at supporting the 14th edition of Youth City 2030, which launches this month under the theme 'Beyond Dreams.' The programme offers innovatively designed training modules across five areas: science and technology, arts and culture, leadership and entrepreneurship, media and entertainment, and sports and health. It targets youth between the ages of 9 and 35, with both morning and evening sessions available.


Al Bawaba
23-07-2025
- Al Bawaba
Bahraini Executives Explore AI-Powered Growth at SAP Business Unleashed Innovation Day
Business leaders and technology decision-makers gathered in Manama recently to explore how data and AI technologies are reshaping industries across the Kingdom at SAP Business Unleashed Innovation Day Bahrain. The event showcased new developments in cloud enterprise resource planning (ERP), business data platforms and embedded AI, offering organizations a path to greater agility, insight and forum brought together customers, experts and partners for a closer look at the tools and strategies driving business model transformation. With Bahrain's Vision 2030 focusing on innovation, diversification and private sector growth, the event reinforced the importance of enterprise technology in achieving long-term national goals.'Bahrain is embracing digital transformation with real intent, and we see business leaders actively seeking tools that go beyond automation to deliver a strategic advantage,' said Saquib Ahmad, Managing Director for SAP Bahrain. 'By bringing together trusted enterprise data with embedded AI, SAP is helping organizations in Bahrain build more intelligent, responsive and resilient businesses. These capabilities support national development priorities and position companies for regional and global success.'One of the central themes was SAP's Business Data Cloud, a solution that integrates business-critical data from SAP and external sources into a single, governed environment. This gives organizations the ability to manage data more effectively, while laying the groundwork for responsible AI and faster also saw SAP Business AI in action. Embedded throughout SAP's cloud applications, Business AI gives users actionable insights and enables them to streamline processes in real time. Demonstrations included SAP's AI copilot, Joule, which allows users to interact with systems using natural language, helping teams in finance, HR, procurement and supply chain make better decisions with less successCustomer success stories from Bahraini organizations such as GPIC and BNET were another highlight of the event. These companies shared how SAP technology is supporting operational improvements, workforce development and future planning. Their experiences offered valuable insights for other local enterprises looking to modernize their business sessions and live demos gave attendees hands-on exposure to cloud ERP transformation with RISE with SAP, modern HR capabilities through SAP SuccessFactors and data-driven planning with SAP Analytics Cloud. These offerings are designed to help organizations build more responsive, future-ready operations while keeping data secure and compliant. With more Bahraini companies expanding across borders and exploring new growth opportunities, SAP reaffirmed its commitment to the Kingdom's digital economy. Business Unleashed Innovation Day Bahrain reflected SAP's role as a strategic partner to organizations focused on performance, resilience and innovation through intelligent technology and connected data.