Y Ventures to develop global buying concierge
Singapore’s Y Ventures Group has established a subsidiary to develop the Aora platform, a global buying concierge that will focus on cross-border purchases on behalf of consumers in Asia.
The group has also signed a memorandum of understanding with e-commerce logistics and communications service provider Singapore Post with the aim of collaborating on developing an e-commerce platform with last-mile delivery services, plus share data on buying trends and consumer preferences in new markets.
The group’s wholly owned subsidiary Luminore 8 will also focus on developing logistics-related technology and algorithms to enhance efficiency across the vertical logistics chain to accelerate the global expansion of both parties.
“This collaboration reflects SingPost’s commitment in building a strong ecosystem for e-commerce logistics,” sats Singapore Post VP Lee Hon Chew.
The Aora buying platform is slated for a limited beta launch late this year.