Loading...
CargoX, an autonomous delivery platform based in the United Arab Emirates, announced it raised $250 million from an investor group led by BlueFive Capital.
The company will be led by Tomaso Rodriguez, former CEO of Talabat. During his six years leading Talabat, Rodriguez grew the company more than ninefold to become the Middle East's largest food delivery service and led it through a $2 billion IPO in 2024, the year's largest global technology IPO.
CargoX deploys driverless delivery vehicles across last-mile, middle-mile and long-haul logistics routes. The platform has been successfully piloted on public roads in the UAE, with commercial operations expected to commence shortly across Abu Dhabi and Dubai. Anchor relationships have been established with leading e-commerce, retail and logistics operators, with regulatory engagement secured from Dubai's Roads and Transport Authority and Abu Dhabi Mobility.
Funding will support expansion of CargoX's autonomous logistics network across the UAE and international markets, plus continued investment in vehicle technology, operations infrastructure and strategic partnerships.
Rodriguez stated: "The Middle East is ready for a step-change in logistics efficiency, and autonomous delivery is no longer a future concept, it is happening today."
BlueFive Capital manages $15 billion in assets, operates from nine cities including London, Abu Dhabi, Riyadh, Singapore and Beijing, and offers private equity, real estate, infrastructure and financial products.