Boxy, Iraq’s first AI-powered logistics aggregator, has secured $1.5 million in pre-seed funding from EQIQ, a venture capital fund and venture builder with a track record of over $500 million in tech investments and 3.3x returns.
Founded in 2024 by Ahmed Baqer (CEO) and Mehrshad Pezeshk (CTO), in collaboration with EQIQ, Boxy aims to unify Iraq’s fragmented last-mile delivery sector.
By integrating over 1,500 couriers into one intelligent platform, the startup helps merchants find the best shipping partner for every order using real-time data, predictive algorithms, and performance-based routing.
Since launching in October 2024, Boxy has seen consecutive high double-digit growth, signaling strong early product-market fit.
How Boxy Works
The startup addresses one of Iraq’s core e-commerce bottlenecks: the lack of streamlined last-mile logistics. Its platform overlays an AI-powered matching engine across existing courier networks, automating order routing based on merchant preferences, courier performance, and location data.
This system removes the need for merchants to manually compare carriers, switch between dashboards, or negotiate separate deals—cutting onboarding time from weeks to hours.
“Boxy is not about replacing couriers, it’s about empowering merchants and optimizing delivery,” said CEO Ahmed Baqer. “Our AI engine finds the best shipping option per order, reducing failed deliveries and improving customer experience.”
EQIQ’s Venture-Building Strategy
The $1.5 million investment is part of EQIQ’s broader strategy to co-found and build ventures in high-impact sectors like logistics, fintech, and e-commerce. Unlike traditional VCs, EQIQ takes an operational role from day one, providing capital, infrastructure, and market access via its base in Abu Dhabi’s ADGM.
“Boxy is a core part of our vision to digitize Iraq’s infrastructure,” said Mohamed Al-Hakim, Founding Partner at EQIQ. “Logistics is the backbone of the tech ecosystem, and Boxy is solving a fundamental problem with smart, scalable technology.”
Boxy’s founding team reflects EQIQ’s focus on experienced leadership: Baqer previously helped scale Careem Iraq and Northladder, while CTO Pezeshk brings over 15 years of building and exiting logistics tech ventures across the Middle East and North America.
Scaling Across Iraq and Beyond
Boxy has doubled its merchant base in the past month and is on track to integrate with major courier networks in Baghdad and Iraq’s provincial cities.
The fresh capital will go toward expanding the company’s proprietary tech stack, refining its AI algorithms, and building a robust logistics layer to support Iraq’s growing digital economy.
“There’s a myth that Iraq’s last-mile logistics can’t be fixed,” said CTO Pezeshk. “Boxy is proving that with the right tech and strategy, we can create a seamless shipping experience across the country, and eventually the region.”
As Iraq’s e-commerce market expands, Boxy is positioning itself not just as a delivery platform, but as the logistics operating system powering Iraq’s digital future.
