CargoX, a United Arab Emirates-based autonomous delivery company, said on June 2 that it raised US$250 million from an investor group led by BlueFive Capital, an Abu Dhabi-based investment manager.

The company also appointed former Talabat CEO Tomaso Rodriguez as CEO.

CargoX said its driverless vehicles cover last-mile, middle-mile, and long-haul logistics.

The company said it has piloted the vehicles on UAE public roads and engaged with Dubai’s Roads and Transport Authority and Abu Dhabi Mobility ahead of planned commercial operations in Abu Dhabi and Dubai.

It said the funding will support expansion in the UAE and overseas, as well as investment in vehicle technology, operations infrastructure, and partnerships.

BlueFive said it is incorporated in Abu Dhabi Global Market and offers private equity, real estate, infrastructure, and financial products.

🔗 Source: BlueFive Capital