- | 4:30 pm
Stride Ventures invests in UAE’s Maalexi
The funding will accelerate growth plans at the agritech platform, which helps small food and agri-businesses directly access cross-border trade
Stride Ventures has announced a venture debt investment of $1 million in agritech and risk management platform Maalexi in the India-based global venture debt firm’s first such funding in the Gulf Cooperation Council (GCC) region.
The investment will accelerate growth plans at Maalexi, which helps small food and agri-businesses directly access cross-border trade, and boost its operational capabilities to foster more efficient food and agri-produce procurement and distribution.
Founded in 2021 by Azam Pasha and Rohit Majhi, Maalexi provides critical risk management tools including digital contracts, AI-enabled inspections, and block chain-authenticated documentation, enabling SME agri-buyers to procure food supplies faster, cheaper, and safer from globally located SME agri-producers and exporters.
Apoorva Sharma, managing partner at Stride Ventures, said: “Maalexi’s deployment of cutting-edge technologies places it at the forefront of enhancing regional food security and connecting rural markets with the global economy. This 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.”
Maalexi co-founder and CEO Pasha said: “This 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 (‘SME’) 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. This capital infusion will serve as a strategic lever, helping us acquire additional debt capital to expand our operations, and bolster food security across the UAE and the broader GCC region,” Pasha added.
The strategic investment not only strengthens Stride Ventures’ commitment to Hub71, Mubadala’s tech ecosystem, but also underscores its role as a global investor with strategic focus on supporting high-growth companies in emerging markets, the company said.
Stride Ventures has a portfolio of more than 140 startups through its multiple funds.
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