Selected Malaysian tech start-ups record RM8.5 billion revenue
Cradle’s inaugural publication features 100 companies, of which 36 earned net profit above RM1 million and 58 operated in regional or global markets.
Cradle Fund Sdn Bhd reported that the 100 Malaysian technology start-ups chosen for its inaugural publication earned combined revenue of RM8.5 billion in FY2024. Their compound annual growth rate averaged 87% between 2021 and 2024.
The Malaysia Top 100 Startups 2026 Edition presents the businesses alphabetically, recognising their performance without ranking them. Net profit exceeded RM1 million at 36 companies, some of which achieved that level during the pre-seed or seed stage. Regional or global operations were reported by 58 companies.
Selection came after Cradle gathered information over a year on about 5,000 start-ups registered in Malaysia and tracked on its MYStartup single-window platform. The assessment drew FY2024 financial information from company submissions, the Companies Commission of Malaysia and Cradle’s database. Criteria included scalability, commercial traction, revenue growth, valuation and funding.
Norman Matthieu Vanhaecke, Cradle’s group chief executive officer, described the findings as a starting benchmark for the Malaysian start-up ecosystem. Cradle operates under the Ministry of Science, Technology and Innovation (Mosti) and had given grants or made investments in 33 selected start-ups.
Datuk Chang Lih Kang, the Mosti minister, said the findings could inform decisions about financing gaps and sectors needing support. He said inadequate financing had hindered some Series A and Series B businesses from advancing to subsequent funding rounds, while the publication could increase their exposure to prospective funders.
Norman also said overseas businesses could use the publication to identify Malaysian partners for access to the wider Asean market.
