UAE-based AgriTech startup Maalexi has raised $1 million in venture debt from India's Stride Ventures, marking the latter's first investment in the GCC region. This funding will accelerate Maalexi's growth and enhance its operational capabilities in facilitating efficient food and agri-produce procurement and distribution across the region.

Company Background

Founded in 2021 by Dr. Azam Pasha and Rohit Majhi, Maalexi is a dynamic risk management platform that enables small food and agri-businesses to access cross-border trade. The startup aims to revolutionize the $3 trillion global cross-border food and agri-produce trading market by providing critical risk management tools, including digital contracts, AI-enabled inspections, and blockchain-authenticated documentation.

Investment Details

The $1 million venture debt is part of a larger commitment by Stride Ventures in the GCC region. This investment follows Maalexi's $3 million pre-Series A round earlier this year, which was led by Global Ventures and included existing investors Rockstart and Ankurit Capital.

Investor Perspective

Apoorva Sharma, Managing Partner at Stride Ventures, emphasized Maalexi's role in enhancing regional food security and connecting rural markets with the global economy. Sharma stated that this investment aligns with Stride Ventures' global expansion strategy and commitment to supporting companies that leverage technology to improve traditional industries.

Maalexi's Plans

Dr. Azam Pasha, co-founder and CEO of Maalexi, outlined the company's plans for utilizing the funds. The capital will be used to acquire new users, scale operations, and deploy cutting-edge technology solutions to streamline the movement of goods through local and international warehouses and carriers. Additionally, the investment will help Maalexi secure additional debt capital for expansion and bolster food security across the UAE and the broader GCC region.

Impact on the Ecosystem

This strategic investment strengthens Stride Ventures' commitment to Hub71, Mubadala's tech ecosystem, and underscores its role as a global investor focused on supporting high-growth companies in emerging markets. For Maalexi, it represents a significant step towards its mission of democratizing cross-border trade for small food and agri-businesses and strengthening global food security.

Maalexi's successful venture debt raise from Stride Ventures highlights the growing interest in AgriTech solutions that address critical challenges in the global food trade. As Maalexi continues to expand its operations and enhance its technology platform, it is poised to play a crucial role in transforming cross-border trade for small and medium enterprises in the food and agriculture sector.