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[FUNDING NEWS] UAE-Based Maalexi Secures USD$1 Million in Funding

In order to promote innovation in the GCC, Stride Ventures, an Indian venture loan business, has invested $1 million in Maalexi. This will accelerate Maalexi’s growth and improve its operational capabilities for effective food and agri-produce distribution.

Maalexi was founded in 2021 with the goal of revolutionizing the $3 trillion worldwide industry for cross-border trade in food and agricultural products by offering risk management solutions like blockchain-authenticated documents, digital contracts, and AI-enabled inspections.

The investment, according to Azam Pasha, co-founder and CEO of Maalexi, would improve user acquisition and operational scalability by using cutting-edge technological solutions to reduce trade risks internationally and improve food security in the United Arab Emirates and the larger Gulf Cooperation Council.

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$1 million is invested in Maalexi by Indian venture debt company Stride Ventures as part of a bigger commitment to promote innovation in the Gulf Cooperation Council (GCC).

The investment will support more effective food and agri-produce procurement and distribution throughout the region by accelerating Maalexi’s growth goals and enhancing its operational capabilities.

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Maalexi provides direct access to international trade for small food and agribusiness enterprises. Azam Pasha and Rohit Majhi founded Maalexi in 2021, and it is expected to completely transform the $3 trillion global cross-border food and agri-produce trading business.

With the help of the company’s essential risk management tools—such as digital contracts, AI-enabled inspections, and blockchain-authenticated documentation—SME agri-buyers can now purchase food supplies from SME producers and exporters situated all over the world more quickly, affordably, and safely.

“The investment embodies Stride Ventures’ commitment to global expansion by supporting companies that use technology to improve traditional industries. Our strategy is not only forward-thinking but also designed to foster innovation and cultivate synergies across borders,” Apoorva Sharma, Managing Partner at Stride Ventures, commented on the collaboration, said.

In addition, he stated that the financial infusion will act as a strategic lever, assisting them in obtaining more loan capital to grow our business and support food security in the United Arab Emirates and the larger Gulf Cooperation Council.

“The debt capital raise from Stride Ventures will significantly enhance our ability to acquire new users and scale our operations, further solidifying our position as a leading digital risk management platform for small and medium enterprises (SMEs) engaged in cross-border trade. We will use these funds to deploy cutting-edge technology solutions that streamline the movement of goods through our local and international warehouses and carriers, effectively mitigating key risks in international trade,” Dr. Azam Pasha, co-founder and CEO of Maalexi, said.

About Maalexi

Maalexi is an agri-trade fintech company that offers small agri-businesses that are engaged in or considering cross-border trade a state-of-the-art risk management platform to protect payment and performance.In cross-border transactions, Maalexi efficiently reduces the main trade risks, which include counter-party, legal, product (quality, quantity, and weight), document, delivery, and payment hazards.

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