{"id":93707,"date":"2024-07-10T00:00:00","date_gmt":"2024-07-10T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/maalexi-secures-usd-1-mn-in-venture-debt\/"},"modified":"2024-07-10T00:00:00","modified_gmt":"2024-07-10T00:00:00","slug":"maalexi-secures-usd-1-mn-in-venture-debt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/07\/10\/maalexi-secures-usd-1-mn-in-venture-debt\/","title":{"rendered":"Maalexi secures USD 1 mn in venture debt"},"content":{"rendered":"

Agri-trade fintech firm <\/strong>Maalexi<\/a><\/strong> bagged USD 1 mn in venture debt<\/strong> from India-based venture capital firm Stride Ventures<\/a>, according to a press release<\/a>. The investment will allow Maalexi to acquire new users and scale its operations, as well as boost food and agri-produce procurement and distribution across the region. The startup also hopes to acquire further debt capital down the line to boost its expansion plans, the statement said. <\/p>\n

Investors <\/strong>\u2764\ufe0f Maalexi<\/strong>:<\/strong> The agri-tech company secured USD 3 mn in a pre-Series A funding round in <\/span>January<\/a>, led by Mena venture capital giant Global Ventures, with participation from Amsterdam's Rockstart and New Delhi's Ankurit Capital.<\/span><\/p>\n

About Maalexi:<\/strong> Founded in 2021 by Azam Pasha (LinkedIn<\/a>) and Rohit Majhi (LinkedIn<\/a>), Maalexi offers risk management services, including digital contracts, AI-powered inspections, and blockchain-authenticated documentation, for small and medium agri-businesses operating in food security. The firm has facilitated the procurement of food supplies across 70 products from 27 countries and recorded a cumulative monthly growth rate of 60% last year.<\/p>\n","protected":false},"excerpt":{"rendered":"

Indian-based Stride Ventures led the funding round<\/p>\n","protected":false},"author":1,"featured_media":93708,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1548],"tags":[398,865,7,79,75,78],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-93707","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-agriculture","tag-agritech","tag-enterpriseam-uae","tag-fintech","tag-maalexi","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"dae32351-801a-4676-9079-bafc6d7d9558","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/805.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Maalexi secures USD 1 mn in venture debt","related_issue":[93689],"teaser":"Indian-based Stride Ventures led the funding round","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/7\/.24bc3cc2-b153-494b-9204-1cbe0a6b4ae8.mp3"},"yoast_head":"\nMaalexi secures USD 1 mn in venture debt - 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