Malaysia’s Vibrant Startup Scene: Top 10 Innovators of 2023

Nestled in the picturesque landscapes of South East Asia, Malaysia emerges as one of the world’s most captivating countries. Beyond its natural beauty, Malaysia boasts a thriving startup ecosystem, securing its place as the third strongest in the region. The nation teems with successful Malaysian startups, underpinned by several key factors.

A pivotal driver of Malaysia’s startup success story is the surge in venture capital (VC) funding. In the first quarter of 2022 alone, Malaysian startups raised a staggering $319 million, surpassing half of the total funds raised in the entirety of 2021.

The Malaysian government plays a crucial role in nurturing startup achievements. Initiatives like the CIP SPARK grants provide funding and support to tech startups, offering grants of up to 150,000 MYR to transform innovative ideas into reality.


Let’s delve into the top 10 Malaysian startups set to redefine innovation in 2023:


  1. pitchIN

– Year Founded: 2012

– HQ: Kuala Lumpur, Malaysia

– Founders: Kashminder Singh, Sam Shafie


pitchIN, established in 2012, operates in the crowdfunding sector. The company has crafted a premium fundraising platform, outperforming local competitors. Its fundraisers not only raise funds but also contribute to noble causes. The startup has successfully attracted investments, amassing a total of 5.5 million MYR from four investors while making seven investments of its own.


  1. Epost Plus

– Year Founded: 2019

– HQ: Puchong, Malaysia

– Founders: Mandy Chan, Tobin Ng


Epost Plus, founded in 2019, specializes in logistics. It offers all-in-one WMS and OM88S solutions catering to diverse business operations. The startup has undergone multiple funding rounds, accumulating a total raise of $2.3 million from two investors.


  1. TheLorry

– Year Founded: 2014

– HQ: Selangor, Malaysia

– Founder: Nadhir Ashafiq


TheLorry, founded in 2014, operates in the logistics sector. It has created a user-friendly platform enabling quick lorry bookings. This simplifies the often cumbersome process of securing transportation. Since inception, the startup has successfully navigated several funding rounds, with the most recent in April 2022, raising 500,000 MYR. In total, it has secured $7.5 million from eight investors.


  1. Socar Malaysia

– Year Founded: 2017

– HQ: Kuala Lumpur, Malaysia

– Founder: Leon Sing Foong


Socar Malaysia, established in 2017, focuses on transportation. It has developed a platform facilitating ride-sharing, liberating individuals from the burden of vehicle ownership. Among Malaysia’s well-funded startups, Socar has raised an impressive $73.2 million from four investors.


  1. Naluri Life

– Year Founded: 2017

– HQ: Kuala Lumpur, Malaysia

– Founders: Azran Osman-Rani, Hariyati Abdul Majid, Jeremy Ting


Naluri Life, founded in 2017, operates in the healthcare sector. It has harnessed AI to create a digital health solution, connecting patients with quality care for both physical and mental health. The startup has secured significant funding, raising $14.8 million from seventeen investors, with a recent Series B round in June 2022.


  1. Respond.Io

– Year Founded: 2017

– HQ: Kuala Lumpur, Malaysia

– Founder: Gerardo Salandra


Respond.Io, established in 2017, thrives in the marketing sector. It provides a conversational platform empowering businesses to expand marketing and sales efforts. Collaborating with over 10,000 companies worldwide, the startup has raised $8.8 million from six investors, including a notable Series A round in September 2022, securing $7 million.


  1. PayWatch

– Year Founded: 2018

– HQ: Kuala Lumpur, Malaysia

– Founders: Alex Kim, Richard Kim


PayWatch, founded in 2018, specializes in FinTech. The startup has introduced an online platform enabling employees to access their wages early, offering a financial lifeline during emergencies. PayWatch has garnered substantial startup funding, amassing $14.2 million from eight investors, with the latest round in February 2023.



– Year Founded: 2017

– HQ: Selangor, Malaysia

– Founders: Fong Hon Sum, Jeffrey Tan, established in 2017, has revolutionized the motor vehicle trading landscape. It offers a trusted platform for buying and selling vehicles, eliminating complexities and haggling. With multiple funding rounds, including a $30 million Corporate Round in September 2019, the startup has raised $30.9 million from a single investor.


  1. Teleport

– Year Founded: 2019

– HQ: Selangor, Malaysia

– Founder: Peter Chareonwongsak


Teleport, founded in 2019, operates in the e-commerce realm. It simplifies goods movement and e-commerce order fulfillment across South East Asia. With several funding rounds, the startup has raised a total of 220 million MYR, coupled with acquisitions and investments.


  1. Mr. Bur

– Year Founded: 2021

– HQ: Penang, Malaysia

– Founder: Sean Yau


Mr. Bur, established in 2021, innovates within the dental industry. It pioneers dental bur solutions to enhance patient care efficiency. The startup has navigated funding rounds, including a recent round in September 2022, raising $2.5 million and accumulating $4.8 million from undisclosed investors.