- Successful Funding Round: Maalexi, a dynamic risk management platform for SME agri-businesses based in the UAE, has secured $3 million in a pre-Series A fund raise. Global Ventures, MENA’s leading venture capital firm, led the funding round, with participation from existing investors Rockstart (Amsterdam) and Ankurit Capital (New Delhi).
- Utilization of Funds: The funds will be directed towards tech development to enhance Maalexi’s platform and drive customer acquisition in key markets, including the UAE and Saudi Arabia. The strategic focus is on further refining the technology for an improved user experience and expanding the platform’s reach.
- Impactful Platform: Maalexi’s platform plays a crucial role in assisting millions of small agri-businesses navigating the complex $3 trillion global, cross-border food trading market.
UAE-based Maalexi, a dynamic risk management platform for SME agri-businesses, has announced it completed a $3 million pre-Series A fundraising, according to a company statement.
Global Ventures, MENA’s leading venture capital firm, exclusively led the funding round, joined by existing investors Rockstart (Amsterdam) and Ankurit Capital (New Delhi).
The funds will be utilized for tech development to enhance the platform and drive customer acquisition in the UAE and Saudi Arabia.
Maalexi’s platform helps millions of small agri-businesses navigate the $3 trillion global, cross-border food trading market.
The proprietary technology incorporates risk management tools like digital contracts, AI-enhanced inspections, and blockchain-authenticated documentation.
The web platform automates trade, fostering higher revenues, increased bankability, and more sustainable enterprises.
Despite a 6% CAGR in the last five years in the market, small agri-businesses often struggle with managing trade risks and accessing finance.
Maalexi addresses these challenges and has recorded significant growth in 2023, with a Cumulative Monthly Growth Rate of 60%, adding hundreds of users and facilitating procurement across 70 products from 27 countries.
Azam Pasha, co-founder and CEO of Maalexi, expressed excitement about the company’s market opportunity and its solution’s potential to streamline cross-border trades. The low per-transaction costs make the platform lucrative for SME agri-buyers and sellers.
Maalexi’s focus is to strengthen food security in the UAE and replicate the model across the GCC.
Noor Sweid, Founder and Managing Partner of Global Ventures, highlighted Maalexi’s role in empowering small to medium agri-businesses, streamlining transborder exchanges, and leveraging AI-driven risk management tools to address payment and performance risks.
The partnership aims to enhance small agri-business engagement in trade and improve food security in the Gulf and beyond.
Maalexi’s management team, including Dr. Azam Pasha (CEO) and Rohit Majhi (CTO), brings extensive supply chain management, technologies, and finance backgrounds.
The company looks forward to its regional expansion in 2024 with confidence.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.