CargoX Raises US$250 Million in Round led by BlueFive Capital

The company will be led by Tomaso Rodriguez, the former CEO of Talabat. During his six years at Talabat, he helped grow the business more than nine times and turned it into the largest food delivery platform in the Middle East. He also led the company’s $2 billion IPO in 2024.

CargoX operates driverless delivery vehicles for different types of logistics services, including short-distance, medium-distance, and long-haul deliveries. The company has already successfully tested its technology on public roads in the UAE.

Commercial operations are expected to begin soon in Abu Dhabi and Dubai. CargoX has also formed partnerships with major e-commerce, retail, and logistics companies and is working with government authorities such as Dubai’s Roads and Transport Authority and Abu Dhabi Mobility.

The new funding will help CargoX expand its autonomous delivery network across the UAE and into international markets.

The company will also use the investment to improve its vehicle technology, strengthen its operations infrastructure, and build more strategic partnerships.

Tomaso Rodriguez, the CEO of CargoX, said, "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. With $250 million in funding, we now have the firepower to scale – starting in Abu Dhabi and Dubai, then globally."

BlueFive Capital is one of the fastest-growing investment firms in the world and manages around $15 billion in assets.

The company is based in Abu Dhabi Global Market and has offices in nine cities, including London, Abu Dhabi, Riyadh, Singapore, and Beijing. It provides investment services in areas such as private equity, real estate, infrastructure, and financial products for individual, institutional, and retail investors.

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