SIMPPLE CEO and Co-Founder Aloysius Chong
Singaporean proptech company SIMPPLE provides SIMPPLE Ecosystem, an integrated suite of facility management software, IoT devices, and robotics to empower facility owners and operations managers to streamline their operations. By assigning tasks to human and robotic workforces, the firm aims to ensure quality through IoT solutions and CCTV camera integration.
The company recently listed its shares on the Nasdaq Capital Market under the ticker symbol “SPPL”.
Aloysius Chong, CEO and Co-Founder, sheds light on the IPO, SIMPPLE Ecosystem and its impact on workforce management in building maintenance, surveillance, and cleaning.
Excerpts:
Can you provide more details about the SIMPPLE Ecosystem and how it enhances workforce management in building maintenance, surveillance, and cleaning?
SIMPPLE is an advanced technology solution provider in the emerging proptech space, focused on helping facility owners and operations managers manage their facilities. We do so by having a proprietary ecosystem solution suite comprising facility management software, Internet of Things (IoT) devices, and robotics that are integrated at its core.
The SIMPPLE Software then takes in the workflows and processes that a building requires in the areas of building maintenance, security, and janitorial services, then assigns the task to the human or robotic workforce to handle it while ensuring that quality is maintained through a series of IoT solutions and integration with CCTV cameras.
Also Read: Proptech firm SIMPPLE lists on Nasdaq, looks to raise US$8.4M
This, together with our development in Artificial Intelligence, results in our next-generation Autonomic Intelligence Engine, which we coin as SIMPPLE AI, which leverages capabilities in machine learning, computer visioning, and data analytics to position buildings to be future-ready and equipped with new technologies.
In Singapore, our technologies are found in approximately half of the public schools (209 out of 432 schools), seven private hospitals and four of the six universities amongst our deployment across the various commercial and industrial properties sectors.
Why did you choose the Nasdaq over local bourses?
As we started this journey and charted out our fundraising strategy, we had to consider multiple exchanges around the world that were deemed suitable for our listing. A few considerations were the structure and rules of the exchanges, a brief analysis of the financial performance of respective markets, investors and liquidity on the exchanges, and the technology-friendliness of these exchanges as we are a technology company.
In weighing local bourses and the Nasdaq, we actually considered SGX Catalist Board in our discussions. However, after rounds of discussions and deliberation, the team decided that Nasdaq is the most suitable for us as a fast-growing technology company that plans to internationalise.
Through a global platform like Nasdaq, we can access the capital markets in the US, leveraging its strong liquidity. Being a Nasdaq-listed company also improves our brand visibility so that we can access and attract new talents to support the company’s growth.
With the funds raised from your recent IPO, what specific R&D initiatives and IP strategies do you plan to pursue to develop your technology further?
We intend to further our R&D efforts on SIMPPLE AI and ensure its commercial viability for scale-up implementations and deployments. We live in a world where technology advances very rapidly. We remain committed to trialling new technological methods in applied settings (e.g., computer vision analytics and machine learning).
Could you elaborate on your plans for expanding sales and marketing into overseas markets, particularly in Australia and the Middle East? What is your market entry strategy?
Every geographical market presents expansion opportunities, but each market also presents different problem statements and strategies unique to penetrating abroad. One of our successful go-to-market (GTM) strategies includes a partnership approach when entering these markets.
You mentioned potential acquisitions and strategic investments as a use of capital. Are there any specific targets or sectors you are considering for these investments?
At this moment, we cannot comment much on this question, specifically on targets or sectors. We remain open to identifying potential acquisition options to advance our R&D efforts or support our global expansion.
How do you foresee the adoption of robotics and IoT devices in building maintenance and security evolving in the coming years, and how does SIMPPLE plan to stay at the forefront of this industry?
We are already seeing the prevalence of robotics and IoT solutions across the globe. While we cannot comment on the future of robotics and IoT devices, the future of work and play will involve robots and smart solutions. This may also apply in the facilities management industry as it relies heavily on labour, and labour supply shortage also affects labour costs. Technologies like ours will increase efficiency and streamline workflows to overcome labour challenges and address the concerns of facility owners on accountability and transparency.
With SIMPPLE AI, our next-generation Autonomic Intelligence Engine, the workflows between people, processes and technology are automated using Artificial Intelligence, enabling a building to “take care of itself”.
With the opening of selected satellite offices, how do you plan to leverage local talent and expertise to support your global expansion efforts and provide better service to clients in different regions?
When expanding, we believe in a ‘go global, stay local concept’. On top of understanding local laws and regulations, we believe that culture, adoption, and attitudes towards technology implementation play a big role in our implementation success.
That said, being a Singaporean company with a majority Singaporean workforce, our staff are mobile, and we would certainly explore opportunities for our staff to understand various markets together with their overseas colleagues so that we can bring the expertise and knowledge of a Global implementation and apply it to Local requirements.
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