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Prime Mover Magazine

Yojee bringing blockchain technology to transport industry

Australia’s parcel delivery market could see yet another contender emerge, with Sydney start-up Yojee raising some $3.2 million in anticipation of its imminent ASX listing.

Similar to fellow Sydney start-up Sendle, Yojee will provide a tech platform to allow small and medium-sized businesses to make use of spare and unused space available on existing delivery trucks and vans.

According to Yojee, it aims to provide a “collaborative economy approach” using blockchain, a data base technology that is said to be more reliable and trustworthy by dis-intermediating middlemen.

Run by technology entrepreneur and ex-Sydney Swans rookie player, Ed Clarke, Yojee claims it is one of the first companies seeking to apply blockchain outside of banking in Australia in order “to enable the logistics industry to keep up with the boom in e-commerce”, and will be the first listed courier start-up of its kind.

Just like Sendle, Yojee's aim is to enable goods to be delivered more cheaply and efficiently while ensuring operators can fill their vehicles more regularly and improve their bottom line.

Owned by Southern Crown Resources, Yojee reportedly has access to vehicles from various companies across six different countries that have expressed an interest in using the platform, which will go live later this year.

The company is said to be especially focused on the e-commerce sector, “where small and medium players have traditionally had no access to delivery revenue due to their limited delivery capabilities”.

The announcement comes only a week after Zoom2U, a star-up that enables private drivers to become couriers, raised another $1.85 million to take on Australia’s $3.9 billion-a-year pickup-and-delivery market.

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