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Myanmar’s Local Internet Company BOD Tech Co. Ltd Gives Cash Injection to Food Delivery Service

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-YangonD2D will expand its reach to Mandalay and Nay Pyi Taw and its website has been relaunched
SINGAPORE, Aug. 8, 2016 /PRNewswire/ — BOD Tech Co. Ltd and founder, Mike Than Tun Win has given Myanmar’s leading food delivery service, YangonD2D a boost with a 50 percent equity investment.

The funding will be used to expand the service to the cities of Mandalay and Nay Pyi Taw in addition to the commercial capital of Yangon. More than 50 restaurants participate in YangonD2D’s service, which allows for cash to be paid on delivery.

The centralised food delivery service website has no rivals, with tech innovation still in the emerging phases in Myanmar. YangonD2D processes around 4,000 orders per month and although the majority of its client base are expats, an increasing number of locals are starting to utilise the time-saving conveniences of the service. The company was founded in October 2013 by Egyptian expat Shady Ramadan and revenue is expected to top USD1 million this financial year. In February this year, YangonD2D and its founder were featured on BBC’s Capital series as one of Myanmar’s most exciting and innovative tech start-ups.

“Food and dining really is the heart and soul of a city, and Yangon has a lot to offer these days. I’m very pleased to announce this new investment as I’m certain it will bring greater convenience and choice to people in Yangon and beyond,” said Than.

YangonD2D has a team of delivery ‘messengers’, most of whom nip through Yangon’s congested roads on bicycles to collect orders from restaurants and deliver them to customers’ homes or offices. The environmentally-friendly delivery service incurs a minimal fee, can be scheduled in advance and is available 12 hours a day, seven days a week.

The website recently underwent a revamp as a result of the investment and now features user-friendly interface and an easy to navigate design, as well as a host of new restaurants, features and mobile apps.

“The decision to invest in YangonD2D was made for a number of reasons. Firstly, I believe that its founder Shady Ramadan demonstrated great vision when he set up Myanmar’s first food delivery service. I think that Myanmar’s online food delivery business will grow exponentially in the coming years, particularly as the traffic isn’t getting any better. Finally, with BOD Tech’s expertise in customer deliveries through its and businesses, YangonD2D is a great fit,” Mike Than Tun Win added.

Mike Than Tun Win did not disclose the sum of the investment, but said that a 50 percent equity investment into has been completed to provide funding and technological knowhow to power the company to expand its current fleet and develop in-house ‘last mile’ logistics services targeting e-commerce.

Media Contact:

Melissa Lim

Source: BOD Tech

Written by asiafreshnews

August 9, 2016 at 12:38 pm

Posted in Uncategorized

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