Maalexi, an agritech startup established in 2021, operates from its headquarters in Dubai, Abu Dhabi, and the US. Founded by Azam Pasha and Rohit Majhi, the company aims to enhance food security in the UAE by linking small and medium-sized food and agribusiness enterprises with international suppliers.
Innovative Business Model
Maalexi offers a streamlined service that allows manufacturers and distributors to source food products from around the world directly. While retailers also utilize this platform, their usage is relatively smaller. The startup addresses supply chain challenges and mitigates risks by ensuring prompt payments to sellers and guaranteeing product quality for buyers.
Azam Pasha elaborated on Maalexi’s approach, stating that the company’s foundation in international trade and supply chain finance enables them to sell products through risk mitigation strategies. He emphasized that products listed on the platform must meet specific quality and quantity standards, with inspections supported by AI technology. Additionally, the platform offers flexible payment plans, allowing customers to pay 25% upfront and the remaining balance within 30 to 45 days.
Rapid Growth and Impact
Within just six months of operation, Maalexi has facilitated the import of over 29 million kilograms of products into the UAE from more than 27 countries. The startup has experienced rapid growth, with a staggering 2,300% increase in revenue in 2023 compared to the previous year. Hundreds of thousands of SMEs have already adopted the platform, underscoring its early success.
Maalexi’s achievements are bolstered by strong partnerships with global players like DP World, which provides storage facilities. The company has also secured $5.8 million in funding from investors, including Global Ventures and Stride Ventures, positioning itself for further expansion across other GCC countries.
Strategic Alignment with UAE Food Security Goals
Maalexi’s efforts are closely aligned with the UAE National Food Security Strategy 2051, which aims to position the Emirates at the forefront of the Global Food Security Index through sustainable food production and the adoption of modern technologies. The UAE’s focus on food logistics supports its broader economic diversification agenda, transitioning away from oil dependency.
Looking ahead, Maalexi plans to explore new investment opportunities to expand its operations and develop advanced, innovative technologies. These efforts will further support SMEs and strengthen supply chains in the region, contributing to the UAE’s goal of becoming a global leader in food security.
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