Investment of $1.5M by EQIQ in Iraq's inaugural AI-driven logistics platform, Boxy
In a significant move for Iraq's logistics sector, Boxy—Iraq's first AI-powered logistics aggregator—has secured a $1.5 million pre-seed investment from EQIQ, a venture capital fund and venture builder. Co-founded by Ahmed Baqer (CEO) and Mehrshad Pezeshk (CTO) in 2024, Boxy aims to revolutionise the highly fragmented last-mile delivery market in Iraq.
Boxy's innovative approach lies in its AI-matching engine, which layers over an existing network of last-mile delivery players. This technology enables real-time data, predictive algorithms, and performance-based routing, automatically matching merchant orders to the best courier options. The goal is to optimise shipping efficiency, reduce failed deliveries, and improve customer experience.
Ahmed Baqer, with over a decade of experience scaling operationally intensive startups such as Careem Iraq and Northladder, leads the strategic vision for Boxy. Mehrshad Pezeshk, CTO of Boxy, brings over 15 years of experience building and exiting tech-driven logistics ventures in the Middle East and North America.
EQIQ's investment aligns with its strategy of launching ventures with experienced entrepreneurs to fill critical market gaps. The partnership between Boxy and EQIQ is based on a shared vision for re-engineering Iraq's logistics sector as a one-stop-shop platform, eliminating the risk of relying on a single carrier.
Since its launch in October 2024, Boxy has experienced consecutive high double-digit growth, signalling strong product-market fit. The platform has reduced merchant onboarding time from weeks to hours, providing unified APIs, order tracking, performance analytics, and automated courier selection based on cost and delivery speed.
Currently, Boxy has onboarded at least 15 courier partners and facilitated over 300,000 deliveries. With the recent funding, Boxy plans to scale its operations, improve its AI algorithms, and develop advanced analytics tools to further optimise delivery performance. It also aims to expand into the Kurdistan region and potentially other regional markets, positioning itself as a core logistics operating system for Iraq’s growing e-commerce landscape.
Boxy offers merchants a fully integrated solution, solving multiple pain points, rather than juggling numerous dashboards, printing various labels, or navigating tedious courier negotiations. EQIQ's investment in Boxy reflects its hallmark emphasis on partnering with exceptional founders with proven experience.
Mohamed Al-Hakim, Founding Partner at EQIQ, stated that Boxy offers a tech-enabled, AI-powered logistics platform designed to reshape how parcels move across Iraq and beyond. Mehrshad Pezeshk, CTO and co-founder of Boxy, states that with smart technology and the right infrastructure, they are proving that Iraq's last-mile market is solvable.
In summary, Boxy is a pioneering startup transforming Iraq's logistics ecosystem via advanced technology and strategic partnerships. With its AI-powered logistics aggregator, Boxy is set to streamline the last-mile delivery sector in Iraq, making it more efficient, reliable, and customer-friendly.
- The technology utilized by Boxy, an AI-powered logistics aggregator, includes real-time data, predictive algorithms, and performance-based routing, aiming to optimize shipping efficiency and improve customer experience in Iraq's logistics sector.
- EQIQ's investment in Boxy, a fintech startup, aligns with its strategy of partnering with experienced entrepreneurs to launch ventures and fill critical market gaps, such as re-engineering Iraq's logistics sector as a one-stop-shop platform.
- Boxy's innovative approach to solving multiple pain points for merchants involves offering a fully integrated solution that streamlines various tasks, such as unified APIs, order tracking, and automated courier selection based on cost and delivery speed.
- With the recent funding from EQIQ, Boxy plans to expand its operations, develop advanced analytics tools, improve its AI algorithms, and potentially enter the Kurdistan region and other regional markets, positioning itself as a core logistics operating system for Iraq’s growing e-commerce landscape, leveraging artificial intelligence and technology.
