Mike Than Tun Win — founder of BOD Tech Co. Ltd and Flyma.com — has invested in Myanmar's online food delivery service, Yangon Door 2 Door (YangonD2D).
YangonD2D was founded in 2013 and composed of delivery messengers who use bicycles to deliver the orders to the customers.
In a press release, Mike said a 50 percent equity investment has been completed to provide YangonD2D a funding to help them develop its in-house 'last mile' logistics services targeting e-commerce. YangonD2D said the funding will also be used to expand its service in Mandalay and Nay Pyi Taw.
"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 flymya.com and shopmyar.com businesses, YangonD2D is a great fit," Mike said.
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