CargoX, the UAE-based autonomous delivery platform, has closed a USD 250 million funding round led by alternative investment firm BlueFive Capital. The raise coincides with the appointment of Tomaso Rodriguez as CEO – formerly the head of UAE food delivery platform Talabat, where he led the company's 2024 IPO.
CargoX operates driverless vehicles across last-mile, middle-mile, and long-haul logistics routes, and has already piloted its technology on public roads in the UAE. Commercial operations across Abu Dhabi and Dubai are expected to commence shortly.
The company said proceeds will fund expansion of its autonomous logistics network domestically and in international markets, alongside continued investment in vehicle technology, operations infrastructure, and strategic partnerships.
Gulf Economist Staff Writer