- Debt capital raise to significantly enhance Maalexi’s ability to acquire new users and scale its operations further for SMEs.
Indian venture debt firm Stride Ventures invests $1 million in Maalexi as part of a larger commitment to drive innovation in the Gulf Cooperation Council (GCC) region.
The investment will accelerate Maalexi’s growth plans and boost its operational capabilities to foster more efficient food and agri-produce procurement, and distribution across the region.
Maalexi helps small food and agri-businesses directly access cross-border trade. Founded in 2021 by Dr. Azam Pasha and Rohit Majhi, Maalexi is set to revolutionise the $3 trillion global cross-border food and agri-produce trading market.
The company provides critical risk management tools including digital contracts, AI-enabled inspections, and blockchain-authenticated documentation, enabling SME agri-buyers to procure food supplies faster, cheaper, and safer from globally located SME agr-producers and exporters.
“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.
“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.
Furthermore, he said the capital infusion will serve as a strategic lever, helping them to acquire additional debt capital to expand our operations, and bolster food security across the UAE and the broader GCC region.