The Iraqi e-commerce logistics startup Boxy has successfully closed a $1.5 million pre-seed funding round from the venture capital firm EQIQ. This investment is part of EQIQ’s strategy to build ventures that address market gaps and support the digital infrastructure in Iraq.
By the Numbers
- $1.5 Million: The total value of the pre-seed funding round.
- 2024: The year Boxy was founded.
A Unified Platform for a Fragmented Market
Boxy provides a direct response to the challenges of the Iraqi logistics market, where the delivery sector suffers from fragmentation and difficult integration for merchants. The company offers a smart, unified platform that connects merchants with a network of delivery companies. Its key innovation is an AI-powered matching engine that selects the best delivery option for each order based on real-time performance and preferences, reducing setup time for merchants from weeks to just hours.
Fueling Tech Development and Expansion in Iraq
The new investment is aimed at accelerating Boxy’s growth. The funds will be used to further develop the company’s technology and to expand its operations within Iraq, with a particular focus on Baghdad and other major cities, at a time when the e-commerce sector is experiencing rapid growth.
About the Partners
- Boxy: An Iraqi technology startup founded in 2024 by Ahmed Baqer and Mehrshad Pishak. It provides an intelligent, unified platform that connects delivery companies in Iraq, allowing merchants to access immediate and integrated shipping options based on data.
- EQIQ: An investment firm focused on building and backing capital ventures that address market gaps and support the development of digital infrastructure in Iraq.
Looking Ahead
This funding round is a significant boost for Iraq’s burgeoning e-commerce ecosystem. By providing a crucial layer of infrastructure that simplifies logistics for online merchants, Boxy is poised to play a key role in enabling the growth of digital commerce across the country.
Source: Jawlah
