KUALA LUMPUR (Oct 1): Malaysia’s top 100 technology start-ups identified by Cradle Fund Sdn Bhd collectively generated RM8.5 billion in revenue in the financial year 2024, with an average compound annual growth rate of 87% between 2021 and 2024.

The list is featured in Cradle’s inaugural Malaysia Top 100 Startups 2026 Edition. The publication aims to help investors and corporates identify Malaysian companies to work with, while giving policymakers a clearer view of the ecosystem.

Of the 100 companies featured, 36 recorded more than RM1 million in net profit, with some reaching the milestone as early as the pre-seed and seed stages. Meanwhile, 58 of the featured start-ups were already operating in regional or global markets.

Cradle group chief executive officer Norman Matthieu Vanhaecke said the findings would serve as an initial benchmark for the country’s start-up ecosystem. “This is the first time we’re doing this. We are setting the initial benchmark for Malaysia itself,” he said. 

Cradle, an agency under the Ministry of Science, Technology and Innovation (Mosti), provided funding through grants or investments to 33 of the start-ups. 

Mosti minister Datuk Chang Lih Kang said the findings could help the government identify funding gaps and decide which sectors needed more support. He pointed to start-ups at the Series A and Series B stages that were struggling to move to later funding rounds because of a lack of financing.

The publication could help bridge that gap by giving these companies greater visibility among potential funders, he said.

“I think this report can help to bridge the gap, to let funders out there know that we have good companies, we have good start-ups, just that maybe they are less exposed. So, the other thing is, of course, to have more focus on what area or which sectors that we need to focus in,” said Chang. 

“We'll see how to help these technology start-ups by enabling them with advanced technologies. And then, of course, I think if we continue this effort, then we'll get more data, and then we can know where to focus in the future.”

Norman added that the publication could help overseas companies find Malaysian partners to access the wider Asean market.

“We have this potential 100 for you to be able to work with and the larger 5,000 population that you can also be able to link up with as well. So the opportunity is there,” he said.

Cradle spent a year gathering data from about 5,000 Malaysian-registered start-ups tracked through its MYStartup single-window platform before selecting the 100 companies.

The assessment used FY2024 financial data from the Companies Commission of Malaysia, Cradle’s start-up database and direct company submissions. It considered revenue growth, commercial traction and scalability, alongside funding and valuation.

Some of the companies in the top 100 include Alphaswift Industries Sdn Bhd, Pandai Education Sdn Bhd and Debit Circles Sdn Bhd. 

The publication recognises business performance rather than ranking the companies, which are presented alphabetically. It can be downloaded at: https://www.mystartup.gov.my/insights/malaysia-top-100-startups-2026-edition/template1.