Boxy Unveils $1.5 Million Boost to Revolutionize Logistics in Iraq
Iraq’s logistics landscape is about to experience a significant transformation. Boxy, a newly established logistics aggregator, has emerged from stealth mode with a $1.5 million pre-seed investment from EQIQ, a venture capital fund and venture builder. This strategic investment highlights EQIQ’s commitment to bolstering Iraq’s digital infrastructure and addressing critical market deficiencies within the country. This announcement signals exciting opportunities for Iraq’s tech scene, drawing parallels to how similar aggregator models have flourished in other African markets.
Streamlining Delivery: Boxy’s Approach
Founded in 2024 by CEO Ahmed Baqer and CTO Mehrshad Pezeshk, Boxy is designed to tackle the fragmented last-mile delivery sector in Iraq. The core of Boxy’s innovation lies in its intelligent shipping platform, which will integrate multiple couriers, offering merchants real-time access to the best available shipping options. This AI-powered system is poised to bring efficiency and transparency to the existing network of over 1,500 local delivery providers. The strategic partnership with EQIQ gives Boxy the advantage of tapping into the fund’s vast network and resources, accelerating its growth trajectory within a burgeoning market. EQIQ itself is led by founding partners who have a solid track record of investing over $500 million in technology ventures, achieving returns exceeding 3.3x, suggesting promising prospects for the young startup.
In conclusion, Boxy’s emergence and the financial backing from EQIQ mark a significant step towards modernizing Iraq’s logistics sector. With its innovative approach and strong backing, Boxy is well-positioned to become a key player in streamlining deliveries and supporting the growth of e-commerce within Iraq.
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