Cradle, the focal agency for Malaysia’s startup ecosystem, has signed a Memorandum of Understanding (MoU) with digital securities exchange platform Kapital DX Sdn Bhd (KLDX) to provide an alternative fundraising platform for Malaysian startups.

This collaboration between Cradle and KLDX is an initiative under the Ministry of Science, Technology and Innovation’s (MOSTI) Fund Funnel programme. It offers startups flexibility in choosing funding options that suit their particular needs, which also allows companies that may not usually attract local venture capital (VC) to raise capital through the KLDX platform.

“The partnership between Cradle and KLDX is a testament to our commitment to nurturing a sustainable startup ecosystem in Malaysia. The Fund Funnel programme was created to address critical funding gaps in our ecosystem, ensuring that startups have continuous access to capital from the earliest stage to their growth phases,” said the Deputy Secretary General of MOSTI, Nor Azman Hassan.

“By providing alternative funding options, we are enabling startups to scale and paving the way for Malaysia to be one of the top 20 startup ecosystems globally by 2030. MOSTI is committed to supporting collaborations that drive these national ambitions forward,” he added.