SPPL SIMPPLE Ltd

SIMPPLE Ltd. (NASDAQ: SPPL) (“SIMPPLE” or “the Company”), a leading technology provider and innovator in the facilities management sector, today announced it had successfully developed, mobilized, and completed product trials on the Company’s next-generation Autonomic intelligence Engine, or A.I.E. Branded as SIMPPLE A.I., it is the ‘brain’ behind SIMPPLE Software, the Company’s flagship software platform, that enables a building or facility to make active decisions and deployments on its own to assign tasks to workers or robotic assets without human intervention.  

Specially selected and funded through a six-figure innovation grant by Singapore government agencies in 2022, SIMPPLE worked with two large real estate developers in Singapore to develop and deploy (1) a workflow automation engine that leverages computer vision analytics and integration capabilities across different brands of robots, (2) a building calculator to estimate the cost of facility maintenance and contracts, and (3) a workforce calculator with optimization capabilities to better manage staff attendance and efficiency. These technologies were tested across three different commercial retail buildings and both the building owner and building service contractors collectively achieved greater accountability of operations, and measurably improved workforce and cost efficiency.

SIMPPLE A.I. technology aims to revolutionize facility workflow through automation, allowing facility managers to focus on value-added tasks instead of mundane or repetitive task assignments. For instance, trash or spillage can be detected through existing CCTV cameras embedded with SIMPPLE’s computer vision models. SIMPPLE A.I. correlates the gathered information and quickly decides which resource – be it a worker or robot – is located closer to the affected area and automatically deploys that resource to perform the needed cleaning, all without human invention. This ensures that the facility is kept clean and safe for occupants while minimizing the risk of accidents within the given space.

"We are excited to complete the development of this groundbreaking technology after almost two years,” said SIMPPLE chief executive officer Norman Schroeder. “Utilizing SIMPPLE A.I.’s plethora of vision and integration capabilities, asset owners and facility management companies can now further optimize workforce efficiency, manage public liabilities and risks, reduce insurance and replacement costs, and increase accountability and consistency of work done.”

Following a successful showcase of SIMPPLE A.I. technology at a Singapore trade show earlier this year, the Singapore government agency overseeing the built environment sector included emerging technologies such as Artificial Intelligence (A.I.)-enabled solutions in its refreshed industry development plan, highlighting significant potential for SIMPPLE A.I. deployments across Singapore. The Company was also awarded a patent in Singapore for the novel SIMPPLE A.I. process and had already registered its patent in Hong Kong, Australia, and the U.S.

“For many years, facility owners and managers are faced with a global human talent shortage coupled with rising labor wages,” added Mr. Schroeder. “At the same time, they have been under pressure to integrate multiple task-specific technologies into their operations while managing multiple disparate systems to track performance and service delivery. With SIMPPLE A.I., we are already receiving “strong interest” from several industry sectors in Singapore, and expect immense potential for this technology to scale up into multiple overseas markets including Australia and the U.S.”

As part of the internationalisation efforts into the U.S., Norman will be attending a premier international event for the cleaning community – International Sanitary Supply Association (ISSA) Show North America 2024, to present SIMPPLE’s groundbreaking technologies to key stakeholders in the U.S. healthcare sector. The ISSA Show runs from November 19 to 21 at the Mandalay Bay Convention Centre in Las Vegas.

According to an October 2024 report by Fortune Business Insights, the global facility management market is projected to grow at a CAGR of 8.2%, from $1.3 trillion to $2.3 trillion, from 2024 to 2032. Other market research reports like Future Market Insights also underscored the potential of computer aided facility management (CAFM) market that is expected to thrive and reach a valuation of $2.2 billion by 2034. This rapid growth will be driven by the integration of CAFM with Internet-of-Things for real-time data collection as well as use of Artificial Intelligence (A.I.) for predictive maintenance and automated workflows.

About SIMPPLE LTD.

Headquartered in Singapore, SIMPPLE LTD. is an advanced technology solution provider in the emerging PropTech space, focused on helping facilities owners and managers manage facilities autonomously. Founded in 2016, the Company has a strong foothold in the Singapore facilities management market, serving over 60 clients in both the public and private sectors and extending out of Singapore into Australia and the Middle East. The Company has developed its proprietary SIMPPLE Ecosystem, to create an automated workforce management tool for building maintenance, surveillance and cleaning comprised of a mix of software and hardware solutions such as robotics (both cleaning and security) and Internet-of-Things ("IoT") devices. 

For more information on SIMPPLE, please visit: https://www.simpple.ai

Safe Harbor Statement

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement.

Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

For investor and media queries, please contact:

SIMPPLE LTD. Investor Relations DepartmentWebsite: https://www.investor.simpple.ai/  Email: ir@simpple.ai 

Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, NY 10036 Tel: (646) 893-5835 Email: info@skylineccg.com 

For investor and media queries, please contact:
SIMPPLE LTD.
Investor Relations Department
Email: ir@simpple.ai

SKYLINE CORPORATE COMMUNICATIONS GROUP, LLC
Scott Powell 
President
Email: info@skylineccg.com