By John Lee.
EQIQ, a UAE-based venture capital fund, has unveiled its $1.5 million pre-seed investment in Boxy, which it says is Iraq's first AI-powered logistics aggregator.
Boxy aims to unify over 1,500 last-mile couriers into a single intelligent platform, addressing the fragmented logistics landscape in Iraq. EQIQ says Boxy has demonstrated early product-market fit, with consistent high double-digit growth and a recent 100% month-on-month increase in merchant adoption.
Emerging from stealth after a year of development, Boxy was co-founded in 2024 by Ahmed Baqer (CEO, picutred left) and Mehrshad Pezeshk (CTO, pictured right), in partnership with EQIQ. Baqer brings over a decade of experience scaling operationally intensive startups such as Careem Iraq and Northladder, while Pezeshk has over 15 years of experience building and exiting tech-driven logistics ventures in the Middle East and North America.
According to a press release, EQIQ's greenfield approach positions it as a co-founder of Boxy, providing not just capital but also strategic, operational, and infrastructural support from its Abu Dhabi Global Market (ADGM) headquarters.
Mohamed Al-Hakim, Founding Partner at EQIQ, said:
"Logistics is the backbone of the daily operations of the tech ecosystem ... Boxy offers a tech-enabled, AI-powered logistics platform that helps merchants scale their businesses. By pairing our resources and networks with exceptional founders with 25+ years of sector expertise, we've built a venture designed to reshape how parcels move across Iraq and, soon, beyond."
Boxy's platform uses a proprietary AI-matching engine to assign shipments to the most suitable courier, cutting merchant onboarding time from weeks to hours. Its service streamlines delivery operations by replacing multiple courier dashboards with a single unified interface.
The new investment will be used to deepen Boxy's technology stack and expand its operations across Baghdad and other major cities, laying groundwork for a scalable digital infrastructure that supports Iraq's e-commerce and fintech sectors.
See our Comprehensive Guide to Logistics in Iraq here.
(Source: EQIQ)
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