Property developer Megaworld Corp. on Wednesday said it created a wholly-owned subsidiary called Agile Digital Ventures Inc., a venture capitalist that will lead the company’s investments into digital innovations and technology.
The company’s first start-up investment is Pick.a.roo, a lifestyle delivery application, set for public rollout this month.
Customers can purchase products ranging from food to gadgets, hardware, kitchenware, and liquor from over 300 local and international merchants.
Orders may either be delivered on-demand, or on a later schedule.
Megaworld said it is allocating some P250 million in spending spread over three years in the new venture capital, which will engage in investing and building technology start-ups that hopes to support the country’s food, retail and hospitality industries.
“Our main goal is to help retailers smoothly migrate to the digital platform especially during these challenging times. Since 2018, we have been looking for investment opportunities on an app that will enable our retail partners sell and deliver their products online and on-demand. We have talked to several potential partners, but eventually, we decided to build our own,” said Kevin Andrew L. Tan, Megaworld’s executive vice president and president of Agile Digital.
“We started from scratch to build our first start-up brand. Aside from the technology itself, we put focus on operations which will be integral to the success of every brand that we create.”
Agile Digital is also looking for other investment opportunities in digital technology platforms that will further boost Megaworld’s core businesses. VG Cabuag