Yojee (ASX:YOJ) has signed an agreement with Post Media in Cambodia to roll out a software-backed delivery and logistics network in Cambodia.
Yojee is a platform technology company, delivering logistics and supply-chain management capabilities via its blockchain and artificial intelligence (AI) software.
Post Media is the largest print media and news organisation in Cambodia with a gross reach of more than 1.5 million (in a population of 15 million), existing warehouses, delivery and logistics asset.
The new joint venture is being established for the purpose of providing parcel delivery and other logistical support services to consumers in Cambodia.
As per industry statistics, the average cost of customer acquisition in South East Asia is $60, which can be avoided through the joint venture, offering substantial cost benefits.
Post Media’s existing user base, delivery expertise, vehicle and warehouse assets will be combined to establish a logistics company with a focus on the growing ecommerce market.
Post Media also has an established sales team with in-depth market knowledge and strong relationships with most trading businesses in the country through its advertising sales programs.
Yojee and Post Media is aiming to create a cost-effective logistics network across Cambodia, with additional sales revenue expected from other vetted carriers who wish to participate.
The platform is backed by an artificial intelligence system that automatically assigns delivery jobs to drivers and calculates optimised routes for picking up and delivering goods with real-time tracking.
Yojee’s share price increased 60% since the start of 2017, last trading at $0.064.