Megaworld investing P250 M in tech startup

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Photo from: Megaworld FB page

By: Manila Bulletin

Urban developer Megaworld Corporation investing US$5 million in a newly-established wholly-owned subsidiary that will spearhead its investments and ventures into digital innovations and technology.

In a statement, Megaworld said its new digital investment arm AGILE Digital Ventures will take advantage of opportunities brought about by changes in consumer behaviors and lifestyles in this digital age.

“AGILE will engage in investing and building technology start-ups that hopes to support the country’s food, retail, and hospitality industries during these challenging times,” the firm said.

The company has initially allocated a three-year capital expenditure budget of US$5 million (approximately P250 million) to build its first start-up project for three years.

This first start-up investment is called PICK.A.ROO, an all-in-one, on-demand premium lifestyle delivery app, which is set for public roll-out in August.

Using the app, customers can purchase products ranging from food, gadgets, hardware, kitchenware, children’s toys and stuff, pet care, personal care, medicines, office and school supplies, hotel dishes, liquor, to COVID-19 essentials, from over 300 local and international merchants.

Orders may either be delivered on-demand, or on a later schedule. Customers may choose among regular delivery, drive-through, or takeaway pick-up for their orders.

 

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