Iraq‑based logistics startup Boxy has secured $1.5 million in pre‑seed funding from EQIQ, a venture capital firm and venture builder based in Abu Dhabi. The investment aligns with EQIQ’s hands‑on strategy and follows over a year of stealth development before Boxy’s public launch in 2024.
Boxy was co‑founded in 2024 by Ahmed Baqer (CEO) and Mehrshad Pezeshk (CTO). Both bring over a decade of experience in scaling logistics and tech ventures in the region and beyond.
What Boxy Does
Boxy integrates over 1,500 last‑mile courier companies across Iraq into a single, AI-powered delivery platform. It uses a proprietary matching engine to assign each shipment to the optimal courier, based on merchant needs and real‑time performance data.
The platform reduces merchant onboarding time from weeks to hours and eliminates the need for multiple courier dashboards or manual coordination. Since launch in October 2024, Boxy has experienced over 100% month‑on‑month growth in merchant adoption.
Why this Investment Matters
EQIQ is executing a venture‑building strategy, co‑founding startups alongside seasoned operators and deploying capital and operational support. The Boxy investment exemplifies this model.
With its expansion, EQIQ further cements its role in building Iraq’s tech ecosystem. The firm recently doubled its fund size to $30 million, aiming to scale digital infrastructure in logistics, e-commerce, and fintech.
Boxy’s Next Steps
The fresh funding will fuel Boxy’s roadmap: developing its technology stack further and expanding operations in Baghdad and other major Iraqi cities. The goal is to standardise logistics infrastructure and unlock digital commerce potential across the country.
Conclusion
Boxy’s launch marks a key moment in Iraq’s startup landscape. With $1.5 million in backing from EQIQ and traction from merchants nationwide, the company is positioned to solve one of the country’s biggest e-commerce bottlenecks. For EQIQ, Boxy reinforces their ecosystem-building strategy—bridging founders, capital and operational expertise to accelerate digital infrastructure in Iraq.
