Top 20 Startups in Malaysia: Shaping the Future of Innovation
Top 20 Startups in Malaysia: Shaping the Future of Innovation
Malaysia's startup ecosystem is buzzing with energy and innovation, driven by a diverse range of industries and groundbreaking ideas. From fintech to edtech, these top 20 startups are leading the charge in transforming the country’s business landscape. Here’s a closer look at some of Malaysia’s most exciting startups, including their industry, founders, year of foundation, and valuation.
1. Grab
Industry: Ride-Hailing & Fintech
Founders: Anthony Tan, Hooi Ling Tan
Year of Foundation: 2012
Valuation: $40 billion
Grab started as a ride-hailing service and has evolved into a super app offering everything from food delivery to financial services. Its extensive range of services and regional dominance make it a standout in Malaysia’s startup scene.
2. Lalamove Malaysia
Industry: Logistics & Delivery
Founders: Shing Chow and others
Year of Foundation: 2013
Valuation: $1.5 billion
Lalamove is a logistics company known for its on-demand delivery services. It connects users with drivers for fast, reliable deliveries, serving both personal and business needs across Malaysia.
3. KFit
Industry: Health & Wellness
Founders: Chakri Pech, Joel Neoh
Year of Foundation: 2015
Valuation: $100 million
KFit offers a platform for fitness enthusiasts to access various gym and fitness classes. Its mission is to make wellness accessible and affordable through flexible membership options.
4. AirAsia Digital
Industry: Travel & E-commerce
Founders: Tony Fernandes and Kamarudin Meranun
Year of Foundation: 2020
Valuation: $1 billion
AirAsia Digital is an arm of the popular low-cost airline, AirAsia, focusing on travel-related technology and e-commerce solutions. It includes travel booking, lifestyle services, and financial technology.
5. StoreHub
Industry: Retail Tech
Founders: Aaron Lim, Fong Yik Mun
Year of Foundation: 2013
Valuation: $30 million
StoreHub provides cloud-based point-of-sale (POS) systems for small and medium-sized businesses. Its software streamlines retail operations, helping businesses manage sales, inventory, and customer data efficiently.
6. Boost
Industry: Fintech
Founders: Mohd Khairil Abdullah and team
Year of Foundation: 2017
Valuation: $400 million
Boost is a mobile wallet and payment platform that allows users to make transactions, pay bills, and earn rewards. It’s simplifying financial transactions and digital payments for Malaysians.
7. TheLorry
Industry: Logistics & Delivery
Founders: Kueh Joo Hock, Toh Chee Ching
Year of Foundation: 2014
Valuation: $50 million
TheLorry connects customers with lorry and truck drivers for moving goods and logistics services. It aims to make logistics more efficient and accessible for both individuals and businesses.
8. Finology
Industry: Fintech
Founders: Adlina Zainal, Fatin Farhanah
Year of Foundation: 2019
Valuation: $20 million
Finology offers financial advisory and planning tools through its platform. It provides users with resources to make informed financial decisions and manage their investments effectively.
9. Carsome
Industry: Automotive
Founders: Eric Cheng, Andrew Toh
Year of Foundation: 2015
Valuation: $1.7 billion
Carsome is a leading online platform for buying and selling used cars. It simplifies the process with a user-friendly platform, ensuring transparency and efficiency in the automotive market.
10. BookDoc
Industry: HealthTech
Founders: Dato’ Chevy Beh and others
Year of Foundation: 2015
Valuation: $30 million
BookDoc offers a health-tech platform that connects users with medical professionals for consultations, appointments, and health services. Its goal is to make healthcare more accessible and convenient.
11. iPrice Group
Industry: E-commerce
Founders: Paul Srivorakul, Maren Hwang
Year of Foundation: 2014
Valuation: $20 million
iPrice Group is a price comparison platform that helps users find the best deals and offers across various online retailers. It’s revolutionizing e-commerce by providing transparent pricing and promotions.
12. Jirnexu
Industry: Fintech
Founders: Razer Tan, Michael Andre
Year of Foundation: 2012
Valuation: $50 million
Jirnexu provides a platform for digital financial services, including loan and insurance comparisons. Its solutions are designed to simplify the process of finding and applying for financial products.
13. Naiise
Industry: E-commerce
Founders: Deniece and Ronak Kalantri
Year of Foundation: 2014
Valuation: $25 million
Naiise is an online marketplace offering a range of unique and artisanal products. It supports local artisans and small businesses while providing consumers with distinctive and high-quality goods.
14. EasyParcel
Industry: Logistics & Delivery
Founders: Adrian Ang, Richard Tan
Year of Foundation: 2014
Valuation: $60 million
EasyParcel is an online parcel delivery service that connects customers with multiple courier options. Its platform simplifies shipping and logistics for e-commerce businesses and individuals.
15. Klook Malaysia
Industry: Travel & Leisure
Founders: Ethan Lin, Eric Gnock Fah
Year of Foundation: 2014
Valuation: $1 billion
Klook offers a platform for booking travel activities and experiences. It provides users with a range of options, from local tours to international experiences, making travel planning hassle-free.
16. SushiVid
Industry: Influencer Marketing
Founders: Ming Wong, Yun Lai
Year of Foundation: 2016
Valuation: $15 million
SushiVid connects brands with influencers for marketing campaigns. It helps businesses leverage social media influencers to promote their products and services effectively.
17. Maxis Berhad
Industry: Telecom & Digital Services
Founders: Maxis Communications
Year of Foundation: 1995
Valuation: $7 billion
Maxis Berhad is a major telecommunications provider in Malaysia. It offers mobile and internet services, and its digital services include a range of innovative solutions for businesses and consumers.
18. MyCash Online
Industry: Fintech
Founders: Peter Goh, Sahil Sharma
Year of Foundation: 2016
Valuation: $10 million
MyCash Online provides financial services tailored to migrant workers. Its platform offers remittance, bill payment, and other financial services, making it easier for workers to manage their finances.
19. Wakala
Industry: Insurtech
Founders: Muhammad Fadli
Year of Foundation: 2018
Valuation: $12 million
Wakala offers digital insurance solutions with a focus on accessibility and affordability. It aims to make insurance more inclusive and user-friendly through its innovative platform.
20. EJOBS
Industry: Recruitment & HR Tech
Founders: Jarek Wysocki, Piotr Sieredzki
Year of Foundation: 2019
Valuation: $8 million
EJOBS is a recruitment platform designed to streamline the hiring process. It connects employers with job seekers and offers tools to manage applications and track recruitment efforts efficiently.
Conclusion
Malaysia’s startup scene is thriving with these top 20 companies leading the charge in their respective industries. From fintech and e-commerce to health tech and logistics, these startups are not only transforming the local market but also making waves on the global stage. Keep an eye on these innovators as they continue to drive progress and shape the future of Malaysia’s entrepreneurial landscape!
