Maalexi Receives $1M Boost from Stride Ventures

Stride Ventures, an India-based venture debt firm, has taken a significant step in its international strategy by announcing a $1 million investment in UAE-based Maalexi. This marks Stride's first venture debt investment in the GCC region. The funds will accelerate Maalexi's growth and enhance its operational capabilities, promoting more efficient food and agri-produce procurement and distribution across the region.

Maalexi, founded in 2021 by Dr. Azam Pasha and Rohit Majhi, is a dynamic risk management platform aimed at revolutionizing the $3 trillion global cross-border food and agri-produce trading market. The platform assists small food and agri-businesses in accessing cross-border trade directly, offering digital contracts, AI-enabled inspections, and blockchain-authenticated documentation to ensure faster, cheaper, and safer procurement for SME agri-buyers.

Apoorva Sharma, Managing Partner at Stride Ventures, highlighted Maalexi's innovative use of technology to enhance regional food security and connect rural markets with the global economy. Sharma emphasized that this investment aligns with Stride Ventures' commitment to supporting companies that leverage technology to transform traditional industries, fostering innovation and cross-border synergies.

Dr. Azam Pasha, co-founder and CEO of Maalexi, expressed that the investment from Stride Ventures would significantly enhance their ability to acquire new users and scale operations. He noted that the funds would be used to deploy advanced technology solutions to streamline the movement of goods through local and international warehouses and carriers, mitigating risks in international trade. The capital infusion will also help Maalexi secure additional debt capital, expanding operations and bolstering food security in the UAE and the broader GCC region.

Source: Abu Dhabi SME Hub