Top Startups / February 11, 2022
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

Top Malaysian Startups to Watch in 2022

Malaysia or Malaysian startups is not often one of the first things that people think of when they hear about startup hubs. Even if this is the case, the country has been consistently ranked as one of the most promising emerging startup hubs in the world, with numerous top startups coming out of the Asian country. The country is known for being very big on digital technology when compared with its neighbours and this fascination with technology helps to foster innovation, which will create more top Malaysian startups.


1. Paywatch

Year Founded: 2017

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Richard Kim, Alex Kim

Paywatch is a Malaysian startup that was founded in 2017 and is currently based in Kuala Lumpur, Malaysia. The company provides a fintech platform that allows employers to give employees access to their wages in real-time, meaning they can take what they have earned at any time, making it easier to plan financially.

Since being founded, the company has gone through a single round of funding in January 2022. This funding round was supported by a total of four investors and this allowed the business to raise a figure of 21.9 Million MYR.

2. PolicyStreet

Year Founded: 2016

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Wilson Beh, Winnie Chua, Yen Ming Lee

PolicyStreet is a startup in Malaysia that was founded in 2016 and is currently based in Kuala Lumpur. The company has created an online platform that allows users to easily buy the insurance and manage their insurance products. This takes the hassle out of what can be a very stressful and complicated industry.

In the time since the business was founded, it has gone through five rounds of startup funding, which has allowed the company to attract the attention of a group of seven investors. Collectively, these investors have managed to raise $9.5 Million.

3. Dropee

Year Founded: 2017

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Aizat Rahim, Lennise Ng

Dropee is a Malaysian startup that was founded in 2017 and is currently based in the city of Kuala Lumpur. The company has created a SaaS platform that allows independent retailers to connect with a variety of different brands through the use of an online marketplace, with a built-in ordering app.

Since being founded, the company has gone through an impressive seven rounds of funding. These funding rounds have been consistently supported by a group of seven investors. The actions of these investors have allowed Dropee to raise a figure of $8.9 Million in startup funding.

4. Imortgage2u

Year Founded: 2016

HQ: Puchong, Malaysia

Size: 11-50

Founders: Aw Chee Weng, Janice Ang, Jeffrey Tan Kau Meng, Johnson Au Weng Wah, Kevin Cheong, Liz Ang

Imortgage2u is a startup in Malaysia that was founded in 2016 and is currently based in the city of Puchong. The company provides a mortgage platform for their business partners to provide pre-loan screening for maximum loan eligibility. This eliminates a large amount of the risk factor that these providers face.

Since the business was founded, it has gone through three rounds of startup funding. These rounds have been supported by an undisclosed number of investors. The total amount raised throughout these funding rounds currently sits at $824,400.

5. CO3 Social Office

Year Founded: 2016

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Chen Hui Yong, Fong Thye Lee, Hong Chee Wong, Jeh Shyan Wong, Kiat Chun Goh, Sew Chuan Teoh.

CO3 Social Office is a Malaysian startup that was founded in 2016 and is currently based in Kuala Lumpur. The company provides a social co-working space platform by transforming normal, dreary offices into fun and modern spaces for people to work alongside each other. This also helps to create new business opportunities.

Since being founded, the company has gone through funding rounds in 2016 and 2017, with these funding rounds having an undisclosed number of investors involved. The overall funding achieved by the company has reached a figure of 32.7 Million MYR.

6. GuruLab

Year Founded: 2021

HQ: Kuala Lumpur, Malaysia

Size: 1-10

Founders: Vicky Tan, Kai Song Eer

GuruLab is a startup in Malaysia that was founded last year and is currently based in Kuala Lumpur. The company provides a digital platform that provides actionable insights for student engagement, which improves outcomes for students and teachers. Furthermore, parents are also kept aware of developments through this platform.

The business has gone through a single round of funding since being founded, with the round being supported by a sole investor. The actions of this investor have allowed the team at GuruLab to raise a figure of $1 Million.

7. Lapasar

Year Founded: 2016

HQ: Sungai Buloh, Malaysia

Size: 11-50

Founders: Lakshman Das, Thinesh Kumar

Lapasar is a Malaysian startup that was founded in 2016 and is currently based in Sungai Buloh, Malaysia. The company has created a B2B marketplace platform that allows corporations to contact and arrange orders from suppliers across the whole country. This also comes with integrated procurement tools to improve the corporate governance of buyers.

Since being founded, the company has gone through five rounds of startup funding. These rounds have been supported by a total of six investors and the actions of these investors have allowed the business to raise a total of $2.5 Million.

8. Wowshop

Year Founded: 2016

HQ: Kuala Lumpur, Malaysia

Size: 101-200

Founders: Unknown

Wowshop is a Malaysian startup that was founded in 2016 and is currently based in Kuala Lumpur, Malaysia. The company has created an e-commerce marketplace that allows for home shopping and e-commerce so that people can get the goods and items that they need rapidly, and safely.

Since being founded, the company has gone through a single round of startup funding, with the company being supported by a single investor. This investor has supported the company with an unspecified amount of money.

9. Newswav

Year Founded: 2017

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Wai Hoow Swee

Newswav is a startup in Malaysia that was founded in 2017 and is currently based in Kuala Lumpur, Malaysia. The company has provided a simple and easy content aggregation platform so that people in Malaysia can rapidly get access to the news that is most important to them, all in one place.

The business has gone through a single round of startup funding in 2022 and this round of funding was supported by a single investor. This investor has parted with a total of 6 Million MYR.

10. Zoom

Year Founded: 2016

HQ: Petaling Jaya, Malaysia

Size: 11-50

Founders: Jeevan Kumar, Sean Lee

Zoom is a startup in Malaysia that was founded in 2016 and is based in Petaling, Jaya. Not to be confused with the communications company of the same name, the business makes its money through the provision of on-demand same-day delivery for retailers, which allows them to take more control of their stock processes.

The business has gone through a single round of startup funding in 2018, which was supported by a group of four investors. These investors have collectively pooled a total of 4 Million MYR into the business.

11. Kind Kones

Year Founded: 2017

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Ishpal Bajaj, Serina Bajaj

Kind Kones is a Malaysian startup that was founded in 2017 and is currently based in Kuala Lumpur. The company aims to improve the cruelty faced by dairy animals by creating tasty vegan alternatives to ice cream. This helps to create a more sustainable and friendly product range.

Since being founded, the company has gone through two funding rounds, with one in 2021 and another in 2022. These funding rounds have been supported by a total of four investors that have collectively invested a figure of 2.5 Million SGD.

12. Simplify

Year Founded: 2016

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Yan Pei Tay

Simplify is a Malaysian startup that was founded in 2016 and is currently based in Kuala Lumpur. The company has created an internet sharing platform that allows people to make money by letting others use their wifi connection or personal hotspot in return for financial rewards.

Since being founded, the company has gone through three funding rounds, with two in 2021 and a single round in 2018. These rounds have been supported by an unknown number of investors and the company has raised $700,000.

13. FoodMarketHub

Year Founded: 2017

HQ: Petaling Jaya, Malaysia

Size: 51-100

Founders: Anthony See, Shayna Teh

FoodMarketHub is a startup in Malaysia that was founded in 2017 and is currently based in Petaling Jaya. The company offers its digital platform to restaurants that allow them to connect with much-needed suppliers so that they can achieve better costs on the items that they need to make their meals.

Since being founded, the company has gone through four rounds of funding, with these rounds being supported by a total of seven investors. These investors have collectively pooled a total of $13 Million into the business.

14. Mr. Bur 

Year Founded: 2021

HQ: Penang, Malaysia

Size: 11-50

Founders: Sean Yau

Mr. Bur is a Malaysian startup that was founded in 2021 and is currently based in Penang, Malaysia. The company provides innovative dental burs to dentists so that they can improve the care outcomes for their patients.

Since being founded, the company has gone through two Angel Rounds of startup funding, with an unknown number of investors participating in these rounds. The end result of these funding rounds was that the company managed to raise 1.1 Million MYR.

15. Pandai

Year Founded: 2021

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Akmal Akhpah, Khairul Anwar Mohamad Zaki, Suhaimi Ramly

Pandai is a Malaysian startup that was founded in 2021 and is currently based in Kuala Lumpur, Malaysia. The company has provided an EdTech platform that allows students to get better grades by offering fun, interactive quizzes that are based on the curriculum of the students that are taking the quizzes.

Since being founded, the company has gone through two pre-Seed Funding rounds with one in 2021 and another in 2022. These funding rounds have been supported by a group of eight investors. These investors have allowed the company to raise a figure of $2.1 Million.

16. Scentses and Co

Year Founded: 2020

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Sabreena Yeong, Sadira Yeong

Scentses and Co is a startup in Malaysia that was founded in 2020 and is currently based in Kuala Lumpur. The company provides a luxury perfume subscription platform that allows users to discover new, amazing perfumes for prices that are a lot more friendly than most providers are offering. This helps people to smell their best at all times.

The business has gone through its first round of startup funding in January 2022, which was supported by a pair of investors. At this time, the total amount of investment in the business is unknown.

17. Fashion Library Berhad

Year Founded: 2017

HQ: Petaling Jaya, Malaysia

Size: 11-50

Founders: Jeh Shyan Wong, Lai Chu Low, Lai Youn Low

Fashion Library Berhad is a Malaysian startup that was founded in 2017 and is currently based in Petaling Jaya. The company is the largest platform in Malaysia for clothing rental, providing items such as evening gowns, women's workwear and even winter clothes. Women can get what they need from this company.

The business has gone through five rounds of startup funding since being founded, with these funding rounds being supported by a pair of investors. Overall, the company has managed to raise a figure of $1.7 Million.

18. ServisHero

Year Founded: 2015

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Adam Burmister, Jason Kang, Karl Loo, Nicole Sia, Paul Copplestone

ServisHero is a startup in Malaysia that was founded in 2015 and is currently based in Kuala Lumpur. The company makes it easy for people in Malaysia to get in touch with the people they need to carry out services in their local area through the use of a mobile-first solution, improving convenience and safety.

Since being founded, the company has gone through two rounds of startup funding, with a trio of investors being involved in these funding rounds. These investors have allowed the business to raise a figure of $2.7 Million.

19. Ellegra

Year Founded: 2020

HQ: Kuala Lumpur, Malaysia

Size: 1-10

Founders: Gwen Delhumeau

Ellegra is a Malaysian startup that was founded in 2020 and is currently based in Kuala Lumpur, Malaysia. The company provides a D2C clothing platform for women in Malaysia that allows them to get clothing based on style recommendations that are personally tailored to the needs of the person.

The business has gone through two rounds of startup funding that were supported by Accelerating Asia. The end result of these funding rounds was that the company managed to raise $100,000.

20. Zetpy

Year Founded: 2019

HQ: Kuala Lumpur, Malaysia

Size: 11-50

Founders: Adrian Oh

Zetpy is a startup in Malaysia that was founded in 2019 and is currently based in Kuala Lumpur. The company has created technology that allows e-commerce businesses to get automatic updates on their stock levels as orders are being fetched, with means fewer complications due to stock management.

Since being founded, the company has gone through a single round of startup funding that was supported by a single investor. The total amount of investment has not been disclosed

21. Poladrone

Year Founded: 2017

HQ: Selangor, Malaysia

Size: 51-100

Founders: Jin Xi Cheong

Poladrone is a Malaysian startup that was founded in 2017 and is currently based in Selangor, Malaysia. The company uses drones to create aerial insights and automation across various industries to save time, bring more efficiencies and to create a more sustainable future for businesses.

The business has gone through two rounds of startup funding since being founded and these rounds have been supported by a total of five investors. These investors have cumulatively invested a total of $4.3 Million into the business.


FAQs

How Many Startups Are In Malaysia?

According to official estimates, there are around 3000 startups currently in Malaysia.

What Is The Average Investment in Malaysia?

The average investment in Malaysia depends on many factors, however, the average seed funding round in Kuala Lumpur is worth $151,000 and the average Series A round is worth $1.1 Million, both of these are below the global averages.

What Are The Strongest Industries in Malaysia?

The strongest industries in Malaysia are electronics, construction, automotive, finance, IT, media, education and tourism.

Top Malaysian Startups to Watch...
Asaf Fybish

Asaf is an investor and startup growth advisor. He specializes in organic marketing and he's our Chief of Stash

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