EQIQ, a UAE-based totally assignment capital fund, has unveiled its $1.5 million pre-seed funding in Boxy, which it says is Iraq’s first AI-powered logistics aggregator.
Boxy targets to unify over 1,500 ultimate-mile couriers into a single clever platform, addressing the fragmented logistics panorama in Iraq. EQIQ says Boxy has verified early product-market fit, with constant excessive double-digit growth and a latest one hundred% month-on-month boom in merchant adoption.
emerging from stealth after a year of improvement, Boxy changed into co-based in 2024 by Ahmed Baqer (CEO, picutred left) and Mehrshad Pezeshk (CTO, pictured right), in partnership with EQIQ. Baqer brings over a decade of enjoy scaling operationally extensive startups inclusive of Careem Iraq and Northladder, whilst Pezeshk has over 15 years of experience building and exiting tech-pushed logistics ventures in the center East and North america.
in line with a press launch, EQIQ’s greenfield approach positions it as a co-founding father of Boxy, imparting not simply capital however also strategic, operational, and infrastructural assist from its Abu Dhabi worldwide market (ADGM) headquarters.
Mohamed Al-Hakim, Founding companion at EQIQ, stated:
“Logistics is the backbone of the daily operations of the tech ecosystem … Boxy offers a tech-enabled, AI-powered logistics platform that allows merchants scale their businesses. by using pairing our sources and networks with amazing founders with 25+ years of zone understanding, we’ve built a task designed to reshape how parcels flow throughout Iraq and, quickly, past.”
Boxy’s platform uses a proprietary AI-matching engine to assign shipments to the most suitable courier, slicing merchant onboarding time from weeks to hours. Its provider streamlines shipping operations by using replacing a couple of courier dashboards with a unmarried unified interface.
the new investment will be used to deepen Boxy’s generation stack and enlarge its operations across Baghdad and other major cities, laying groundwork for a scalable virtual infrastructure that supports Iraq’s e-commerce and fintech sectors.
