Investment of $1.5M by EQIQ in Iraq's inaugural AI-driven logistics system, Boxy
Boxy Transforms Iraq's Last-Mile Delivery Sector with AI-Powered Platform
In late 2024, Boxy was launched as Iraq's first AI-powered logistics aggregator, aiming to address the fragmented last-mile delivery sector where most courier companies operate independently [1][2][3]. The startup received a pre-seed investment of $1.5 million from the Iraq-focused venture builder, EQIQ, which also functions as Boxy's co-founder [1][2][3][4][5].
Boxy's platform consolidates Iraq's delivery network by connecting merchants to over 1,500 local couriers through a single AI-driven API, enabling real-time optimization in courier selection based on factors such as cost, speed, and performance metrics [2][3][4]. This AI-powered system reduces merchant onboarding time from weeks to hours and eliminates the need for multiple dashboards or separate negotiations with courier services [2].
Since inception, Boxy has already onboarded 15 courier partners and facilitated over 300,000 deliveries, demonstrating early signs of product-market fit and rapid growth [1][3]. The company's team combines expertise from Iraq, Jordan, and the UAE, blending logistics, technology, and product experience to strengthen operational capabilities [1][3].
The fresh capital from EQIQ is being deployed to scale operations across Iraq, including planned expansion into the Kurdistan region and other regional markets [1][3]. Additionally, the investment will be used to enhance AI routing algorithms to improve delivery efficiency and cost-effectiveness [1][3]. Advanced analytics tools are also being developed to help merchants optimize delivery performance and gain operational insights [1][3].
Boxy's emergence represents a significant step toward modernizing Iraq's logistics infrastructure, supporting the growth of its digital commerce sector, and reducing reliance on cash-based operations through more reliable delivery solutions [2]. EQIQ's investment aligns with its broader vision to build digital infrastructure within Iraq’s fast-growing technology ecosystem [2][4].
Mehrshad Pezeshk, Boxy's CTO and co-founder, emphasizes that smart technology and the right infrastructure can solve Iraq's last-mile delivery challenges [6]. With Boxy's AI-powered platform, merchants can now access a unified network of couriers, streamlining their operations and improving delivery efficiency. As Boxy continues to scale and innovate, it is poised to revolutionize Iraq's logistics sector and contribute to the country's digital transformation.
[1] "EQIQ Invests in Boxy, Iraq's First AI-Powered Logistics Aggregator." EQIQ Press Release, 2024. [2] "Boxy Launches, Revolutionizing Last-Mile Delivery in Iraq." TechCrunch, 2024. [3] "Boxy: Iraq's New AI-Powered Logistics Platform." Wamda, 2024. [4] "EQIQ's Investment in Boxy Aligns with Vision to Scale Iraq's Digital Infrastructure." EQIQ Blog, 2024. [5] "Boxy Aims to Integrate Iraq's 1,500+ Last-Mile Couriers." Arabian Business, 2024. [6] "Mehrshad Pezeshk on Solving Iraq's Last-Mile Delivery Challenges." Forbes Middle East, 2024.
- The investment from EQIQ, a venture builder, will be used to expand Boxy's operations into the Kurdistan region and other markets, aiming to modernize Iraq's logistics infrastructure.
- Boxy's AI-powered platform consolidates Iraq's delivery network by providing a unified access for merchants to over 1,500 local couriers, reducing merchant onboarding time and eliminating the need for multiple negotiations.
- The partnership between Boxy and EQIQ is not just an investment but also a collaboration, with EQIQ serving as a co-founder for the fintech startup.
- As Boxy continues to grow and innovate, it is expected to contribute significantly to Iraq's digital transformation, supporting the growth of its digital commerce sector and reducing reliance on cash-based operations.
