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CargoX, the UAE-based autonomous delivery platform, has raised $250 million in a funding round led by alternative investment firm BlueFive Capital.
The capital raise also coincides with the company appointing Tomaso Rodriguez as its CEO, who previously headed UAE delivery platform Talabat and spearheaded its 2024 IPO.
The company, which deploys driverless delivery vehicles across last-mile, middle-mile and long-haul logistics routes, said the funding will support the expansion of its autonomous logistics network across the UAE and international markets, as well as continued investment in vehicle technology, operations infrastructure and strategic partnerships.
The company said it has also built anchor relationships with “leading e-commerce, retail and logistics operators”, without disclosing further details.
The platform has been piloted on public roads in the UAE, with commercial operations expected to “commence shortly” across Abu Dhabi and Dubai, CargoX said.
(Writing by Bindu Rai, editing by Daniel Luiz)
