Boxy, a newly launched logistics aggregator based in Iraq, has officially emerged from stealth with a $1.5 million pre-seed investment from venture capital firm EQIQ. The company is aiming to revolutionize the fragmented last-mile delivery market in Iraq by uniting couriers under a single, AI-driven platform for merchants.
Founded in 2024 by Ahmed Baqer and Mehrshad Pezeshk, Boxy is designed to be a one-stop-shop logistics platform for Iraq’s rapidly growing e-commerce space.
Solving Iraq’s Logistics Puzzle
In a country where over 1,500 last-mile couriers operate independently, shipping is often chaotic and inefficient. Boxy offers a centralized solution that connects merchants to the best courier per order using real-time performance data and preferences.
- ✅ AI-powered courier matching engine
- ✅ Single platform to access all major delivery networks
- ✅ Real-time tracking and optimal shipping options
- ✅ Merchant onboarding in hours, not weeks
This helps businesses avoid the hassle of juggling multiple dashboards, negotiating separate courier deals, and printing different shipping labels for every order.
Strategic Partnership with EQIQ
Boxy’s growth is fueled by EQIQ’s venture-building strategy, which pairs experienced entrepreneurs with funding and operational support. EQIQ has invested over $500 million in tech ventures, with a proven return of 3.3x across its portfolio.
- ✅ Co-founded by EQIQ as a greenfield venture
- ✅ Supported from day one with capital, operational support, and strategic resources
- ✅ Backed by EQIQ’s ADGM headquarters for regional scalability
“Logistics is the backbone of the tech ecosystem,” says Mohamed Al-Hakim, Founding Partner at EQIQ. “With Boxy, we’re bringing an AI-driven, tech-enabled solution that empowers merchants to scale.”
Meet the Founders
Boxy’s leadership reflects decades of domain expertise:
- ✅ Ahmed Baqer (CEO) – Over 10 years in scaling startups like Careem Iraq and Northladder
- ✅ Mehrshad Pezeshk (CTO) – 15+ years building logistics tech in MENA and North America, with successful exits
This blend of local market knowledge and global experience gives Boxy a strong foundation to scale.
Early Traction & Roadmap
Launched in October 2024, Boxy has seen:
- ✅ 100% growth in merchant sign-ups last month alone
- ✅ Strong early product-market fit with double-digit monthly growth
- ✅ Upcoming integrations with Baghdad’s leading courier networks and expansion into major provincial cities
The $1.5M funding will be used to enhance Boxy’s proprietary tech, expand coverage across Iraq, and onboard more merchants and couriers into the network.
Rethinking What’s Possible
“There’s a myth that Iraq’s last-mile market is unsolvable,” says Pezeshk. “But with smart infrastructure and AI, we’re proving otherwise.”
Boxy isn’t adding more delivery companies, it’s optimizing existing ones. With real-time data, logistics intelligence, and EQIQ’s backing, Boxy is paving the way for Iraq’s next digital leap in e-commerce and logistics.