The latest news in investment offerings, financial products and other services relevant to wealth advisors and their clients.

CargoX, BlueFive Capital
CargoX, an autonomous delivery platform based in the United Arab Emirates, has raised $250 million from an investor group, led by BlueFive Capital.

The company will be led by Tomaso Rodriguez, the former CEO of Talabat. During his six years as CEO, Rodriguez grew Talabat more than ninefold to become the largest food delivery service in the Middle East, the firm said in a statement.

CargoX deploys driverless delivery vehicles across last-mile, middle-mile and long-haul logistics routes. The platform has been 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, while regulatory engagement has been secured with key government entities, including Dubai’s Roads and Transport Authority and Abu Dhabi Mobility.

The funding will support the expansion of CargoX’s autonomous logistics network across the UAE and international markets, as well as continued investment in vehicle technology, operations infrastructure and strategic partnerships.

"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,” Tomaso Rodriguez, the CEO of CargoX, said.

BlueFive Capital is a fast growing investment manager, with $15 billion in assets under management. Incorporated in Abu Dhabi Global Market, and with offices in nine cities including London, Abu Dhabi, Riyadh, Singapore and Beijing, the firm offers private equity, real estate, infrastructure and financial products to private wealth, institutional and retail clients. 

Cosmos
Cosmos, an AI platform that automates the back office for cross-border businesses, has been launched in Dubai. Compliance, accounting, tax, corporate operations, and intellectual property workflows run through a single system, replacing the patchwork of advisors and invoices that companies have historically used to stay compliant across jurisdictions, the firm said in a statement.

For cross-border companies, the compliance burden grows every year. New tax regimes, wider ownership disclosure, sharper substance rules, and intellectual property protections in multiple markets all sit on the founder's desk. Founders end up running an administrative business inside their actual business.

Cosmos is based in the UAE because the region has become one of the most active corridors for cross-border business formation and wealth managers, in both directions. UAE-headquartered companies are setting up overseas. Overseas companies are establishing in Dubai and Abu Dhabi. Both flows need clean structures and filings that survive scrutiny, delivered without the cost and time of the traditional advisor model.