Sidec Raises $220K

A government-linked company focused on digital transformation in Selangor, Sidec (Selangor Information Technology & Digital Economy Corporation) has closed a seed funding round, raising $220K. The capital infusion arrives as Sidec works to position Selangor as ASEAN's digital hub, an ambition it supports by nurturing local digital talent, accelerating startups, and empowering businesses through digitalization.

Sidec, which rebranded from SITEC in January 2021, was founded in 2015 with a mandate to develop Selangor as a regional e-commerce trading hub and uplift its startup ecosystem. To date, it has generated RM334.37 million in Gross Merchandise Value and trained over 9,000 SMEs and individuals in online sales.