Boxy, Iraq’s first AI-powered logistics aggregator, has successfully closed a $1.5 million pre-seed round led by EQIQ, a venture capital firm focused on market-gap-driven digital ventures. This investment will accelerate the development of Boxy’s proprietary tech and expand its logistics operations across Baghdad and other major Iraqi cities.
Founded in 2024 by CEO Ahmed Baqer and CTO Mehrshad Pezeshk, Boxy connects over 1,500 last-mile courier services into a single, smart logistics platform. The platform leverages an AI-driven matching engine that automatically routes each order to the best courier based on real-time performance and merchant preferences — reducing merchant onboarding time from weeks to hours.
“Iraq doesn’t need more shipping companies. It needs a one-stop logistics platform,” said CEO Ahmed Baqer. “Boxy eliminates the need for merchants to depend on a single carrier by using data to find the best real-time option for each order.”
EQIQ’s involvement goes beyond funding; the VC firm is acting as a co-founder and has provided strategic, operational, and structural support from day one. The investment aligns with EQIQ’s broader strategy to digitally transform Iraq’s tech infrastructure, focusing on fintech, logistics, and e-commerce ecosystems.
Mohamed Al-Hakim, Founding Partner at EQIQ, commented:
“Logistics is the backbone of Iraq’s tech economy. Boxy is a tech-first solution, and with over 25 years of collective sector experience among its founders, the platform is poised to reshape how parcels move across the country — and beyond.”
Since its soft launch in October 2024, Boxy has shown strong product-market fit, with high double-digit growth and a 100% merchant increase in the past month alone. The company plans to integrate with top courier networks and scale its tech stack using the $1.5M investment.
CTO Mehrshad Pezeshk added:
“There’s a myth that Iraq’s last-mile market is unsolvable. We’re proving otherwise with the right infrastructure and smart tech. We’re building a seamless logistics foundation for Iraq — in close collaboration with EQIQ.”
