Iraq’s City of Gold for Logistics just got its first major boost. EQIQ, a venture capital firm based in the UAE, has invested $1.5 million in Boxy, Iraq’s first AI-powered logistics aggregator. This pre-seed investment could spark a major shift in how parcels move throughout the country.
Boxy is on a mission to bring order to Iraq’s chaotic last-mile delivery system. With plans to unify over 1,500 couriers into one smart platform, the company targets a growing need in the country’s e-commerce and retail markets. It aims to become Iraq’s City of Gold for Logistics, modernising the industry with artificial intelligence.
In addition, the founders of Boxy are no strangers to high-impact startups. Ahmed Baqer, CEO, has over 10 years of experience with companies like Careem Iraq and Northladder. His co-founder, CTO Mehrshad Pezeshk, has 15+ years of success in building logistics-focused tech ventures in the Middle East and North America. Together, they bring strong leadership to Boxy.
Boxy spent a year in stealth mode before finally launching. During this time, it achieved major growth milestones. The company has shown strong product-market fit with consistent double-digit growth. In recent months, it even saw a 100% rise in merchant adoption month-over-month.
Moreover, EQIQ’s approach to investing goes beyond money. The firm is acting as a co-founder, offering strategic, operational, and infrastructure support. Based in Abu Dhabi’s Global Market (ADGM), EQIQ plans to use its networks and resources to help Boxy scale fast.
Additionally, Mohamed Al-Hakim, Founding Partner at EQIQ, explained why this investment matters. “Logistics is the backbone of the daily operations of the tech ecosystem,” he said. “Boxy offers a tech-enabled, AI-powered logistics platform that helps merchants scale their businesses.”
Furthermore, by combining deep industry knowledge and advanced technology, Boxy is ready to become Iraq’s City of Gold for Logistics. The company aims to reshape parcel delivery in Iraq and expand its model into other countries in the future.
In conclusion, this venture could be the start of a new era for Iraq’s logistics and delivery ecosystem. As Boxy grows, it will help merchants improve efficiency and customer satisfaction, driving the economy forward.