Indian Venture Capital Firm Stride Ventures Invests $1 Million in UAE-Based Company Maalexi
Stride Ventures, the Indian venture capital firm, announced an investment of $1 million in UAE-based company Maalexi through venture debt. Maalexi, founded in 2021 the United States, relocated to the UAE by joining the Hub71 program. The company focuses on cross-border trade, providing advanced risk management and inspection tools using artificial intelligence and blockchain technology.
Apoorva Sharma, Managing Partner at Stride Ventures, stated: “Maalexi’s deployment of advanced technologies solidifies its position at the forefront of efforts to enhance regional food security and connect rural markets to the global economy. This investment highlights our commitment to global expansion by supporting tech companies aimed at improving traditional sectors. Our forward-looking strategy is designed to foster innovation and harmony in the cross-border trade sector.”
Azzam Pasha, Co-founder and CEO of Maalexi, commented: “The funding will enhance our ability to attract new users and expand our operations, thereby strengthening our position as a leading digital risk management platform for SMEs engaged in cross-border trade. We will deploy the funds to implement advanced technological solutions that improve the movement of goods through our local and regional warehouses and transporters, reducing the main risks facing international trade. Additionally, this capital infusion is a strategic lever that will help us attract more borrowed capital to expand our operations and enhance food security across the UAE and the wider GCC region.”
In January of this year, Maalexi announced a $3 million investment led by Global Ventures in a Series A funding round.
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