Stride Ventures Invests $1 Million in UAE-Based Maalexi
In January, Maalexi raised $3 million in a pre-Series A funding round led by Global Ventures.
Stride Ventures, an India-based venture debt firm, has made its first venture debt investment in the GCC region by investing $1 million in Maalexi, a UAE-based risk management platform.
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The funding will support Maalexi in expanding its growth plans and enhancing its operational capabilities.
Maalexi, founded in 2021 by Azam Pasha and Rohit Majhi, is a risk management platform designed for small food and agri-businesses.
Azam Pasha has over twenty years of experience in food and agricultural supply-chain management and trade finance.
Rohit Majhi has extensive experience in management consulting at Deloitte and has led technology functions at US-based supply chain startups.
Maalexi provides tools such as digital contracts, AI-enabled inspections, and blockchain-authenticated documentation. These tools facilitate the procurement of food supplies by SME agri-buyers from SME agri-producers and exporters worldwide.
In January, Maalexi raised $3 million in a pre-Series A funding round led by Global Ventures.
Last year, Maalexi onboarded hundreds of users, facilitating the procurement of millions of kilograms of food supplies across 70 products and from 27 different countries.
