Maalexi, the UAE-based dynamic risk management platform for SME agri-businesses, has successfully completed a $3 million pre-Series A fund raise. The funding round was led exclusively by Global Ventures – MENA’s leading venture capital firm – and joined by existing venture capital investors Rockstart (Amsterdam) and Ankurit Capital (New Delhi).
The funds will be utilized for tech development, aiming to enhance its full-stack platform to help SME agri-buyers procure faster, cheaper, and safer from globally placed SME sellers, as well as to drive customer acquisition, specifically more buyers in the UAE and Saudi Arabia and add sellers from 50+ origin countries.
Tomatoes growing at RedSea farms, Saudi Arabia
Maalexi’s platform is designed to assist the millions of small agri-businesses active in the $3 trillion USD global, cross-border food trading market. Despite the market growing at 6% CAGR in the last five years, such businesses often suffer from an inability to manage trade risks and access finance.
Maalexi’s technology includes embedded risk management tools such as digital contracts, AI enhanced inspections, and blockchain-authenticated documentation, all on a user-friendly web platform. Its solution increases participation and automates trade, leading to higher customer revenues, increased bankability, and more sustainable enterprises.
Maalexi founders Rohit Majhi (left) and Azam Pasha
Maalexi has experienced significant growth, recording a Cumulative Monthly Growth Rate of 60% in 2023, adding hundreds of users, and helping SME buyers procure millions of kilograms of food supplies across 70 products from 27 countries.
The management team at Maalexi includes two co-founders with stellar backgrounds in supply chain management, technologies, and finance. Azam Pasha, the CEO, has over two decades of experience as a head and senior advisor on food and agricultural supply-chain management and trade finance, and Rohit Majhi, the CTO, has a background in Management Consulting at Deloitte and led the technology function at US-based supply chain startups during his career.
::Maalexi
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