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Investors Darlings – Top 10 Malaysia Headquartered Companies Who Raised More Than US$ 10M In 2019
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Malaysia is a rising star as far as the startup ecosystem is concerned and a perfect gateway to the booming Asian market.
In the Doing Business 2019 report by the World Bank, Malaysia secured the 2nd highest score in Southeast Asia as far as ease of doing business is concerned. With easy access to construction approvals, low cost electricity, competitive labor costs, industry friendly import and export policies, online registration of GST, and much more, Malaysia is ensured ease of doing business and attracted innovative startups as well as investors.
Malaysia is playing a big role in the overall development of the region which is evident from the startup boom.
As per Crunchbase, 9 Malaysia headquartered companies raised more than USD 10M in a funding round in 2019. Below is the list.
| Organization Name | Last Funding Amount Currency (in USD) | Last Funding Date |
| Perusahaan Otomobil Nasional Sdn Bhd | $454,930,979 | 2019-04-28 |
| Carsome | $50,000,000 | 2019-12-11 |
| iflix | $50,000,000 | 2019-07-22 |
| Tasco Bhd | $30,060,000 | 2019-04-01 |
| Aerodyne Group | $30,000,000 | 2019-10-16 |
| myTukar.com | $30,000,000 | 2019-09-19 |
| YYC Advisors | $14,508,523 | 2019-07-07 |
| MDT Innovations | $14,250,000 | 2019-04-15 |
| EasyParcel | $10,550,000 | 2019-07-15 |
Perusahaan Otomobil Nasional Sdn Bhd
PROTON was founded in the year 1983 and is one of the leading automobile manufacturers in Malaysia. PROTON’s vision includes the development of indigenous R&D capabilities, world-class manufacturing facilities and production best practices, design capabilities as well as a global presence. PROTON has more than a dozen models as its offerings and has sold more than 3 million units which includes export to over 25 countries. The company raised a fund of 1.9B MYR (US$ 455M) in a debt financing round in Apr 2019. China Construction Bank was the leading investor.
Carsome
Carsome is an online car trading platform providing a mechanism for the customers and dealers to connect digitally. The company was established in Feb 2015. Carsome facilitates the entire car selling process right from inspection, valuation, bidding, payment, and logistics thereby streamlining the entire process. The company recently raised 50M USD in Series C funding round in Dec 2019. MUFG Innovation partners, Gobi Partners, Convergence Ventures, Indogen Capital, and Lumia Capital emerged to be the top investors. The company plans to expand to more markets in Southeast Asia and compete with the leading giants in the car selling industry.
Iflix
Iflix is the world’s leading entertainment service provider for emerging markets and provides users access to thousands of TV shows and movies. The company was founded in 2014 by Mark Britt and Patrick Grove. In July 2019, the company raised 50M USD in a corporate funding round. Yoshimoto Kogyo and Fidelity International were the leading investors. This investment will lay a stone for further growth prospects and strengthen its ties with some of the largest providers of local content as well as prepare for an anticipated IPO.
Tasco Bhd
This is a leading logistics and warehousing company founded in 1974. Recently in Apr 2019, the company managed to raise 30M USD in a post IPO equity round. Japanese Government Fund emerged to be the leading funding source. This investment will allow the company better access to various other markets.
Aerodyne Group
This company is an international drone-based solutions provider founded in 2014. Apart from having its headquarters in Malaysia, the company has offices in Singapore, UAE, UK, and Indonesia. The company raised 30M USD in Series B funding round. InterVest, and Kejora Ventures were the leading investors while Gobi Partners, 500 Startups, Venture Tech, and Drone fund also participated. Aerodyne Group has a plan to use the funds to grow its standalone software as a service offering for enterprise drone programs.
MyTukr.com
Founded in 2017, the company mainly provides a car bidding platform for selling cars in the most trusted and transparent way. In Sept 2019, the company raised 30M USD in a corporate funding round. Carro emerged to be the leading investor in the funding. This startup has a vision to transform car sales for sellers as well as dealers.
YYC Advisors
This Company was founded in the year 1974 comprising of chartered accountants, tax specialists, and several consultants. Yap Seong Fatt is the founder. In a funding round in July 2019, the company raised 60 M MYR (14.5M USD) from OCBC Bank of Singapore and thus improved its financial status. This fund will be utilized as a war chest for merger and acquisition exercises.
MDT Innovations
One of the fastest-growing technology companies in Malaysia, it was founded in the year 2004. The company specializes in component engineering, highly strategic consulting services, software design, and embedded intelligent wireless sensor focusing on IoT (Internet of Things), flat panel displays, and mobile information technologies. The company recently secured 14.3 M US Dollars from COPE Private Equity, and SBI Islamic Fund (Brunei). This fund will help in strengthening its research and development efforts, improving product quality, and eventually raise its profile and profit.
EasyParcel
EasyParcel provides a platform for online booking of the parcel delivery. The company was founded in 2014 and headquartered in Penang, Malaysia. In July 2019, the company secured 10.6 M USD in Series B funding round. Red Box and Gobi Partners participated in the funding round and Gobi Partners emerged to be the leading investor. EasyParcel plans to use the funds to expand its offering to small and medium enterprises (SMEs) and to scale online delivery services.
Keep an eye on our investor darling series on AsiaTechDaily. We would be covering all major countries in Asia.
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