SIMPPLE Ltd. Announces Distribution Partnership with Elite VDP as part of its Geographical Expansion into Vietnam
Singapore, Dec. 03, 2024 (GLOBE NEWSWIRE) -- SIMPPLE Ltd. (NASDAQ:SPPL) ("SIMPPLE" or "the Company"), a leading technology provider and innovator in the facilities management (FM) sector, today announced that its Singapore subsidiary had signed a partnership agreement with Vietnam-based Elite VDP Co., Ltd. to distribute SIMPPLE Ecosystem across Vietnam.
As part of this initial agreement, the partnership is expected to generate at least $100,000 in sales revenue. Vietnam is a new market SIMPPLE is expanding into, and the Company believes this emerging market presents an immense growth potential over the next few years.
Elite VDP, a leading provider of hygiene and sanitization based out of Ho Chi Minh City, has operated in Vietnam for over 30 years. The company brings best-in-class innovative solutions to provide end clients in sectors including commercial retail and offices, hospitality, food and beverages, and industrial factories in Vietnam.
Elite VDP chief executive Andrew Lim shared that "we recognise merits of onboarding components of the SIMPPLE Ecosystem in our A.I. solution offerings. A.I.-based Automation is the next wave that will change the Vietnam landscape. This partnership with SIMPPLE gives us greater certainty that A.I. autonomous operations is the way forward and SIMPPLE can support the market with it."
"As part of our earlier announcement into Thailand, we see immense market potential for Vietnam. We celebrate this partnership with Elite VDP and are proud to share our expansion strategy into Vietnam," said SIMPPLE chief executive Norman Schroeder. "Elite VDP brings together client-focused solutions to the end users in Vietnam, which is a testament to the range and quality of SIMPPLE offerings. We believe, with Elite VDP's three existing offices across Vietnam, we can accelerate progress across the market."
According to a research report from TechSci Research, the Vietnam Autonomous Work Process market was valued at $420 million in 2023 and is projected to grow at a CAGR of 4.5% through 2029. This growth, said the study, is expected to be driven by rapid industrialisation, increased adoption of automation technologies, and favourable government policies promoting Industry 4.0.
"The possibilities for SIMPPLE in Vietnam are endless and this is just the beginning," concluded Mr. Schroeder. "We look forward to announcing further progress for this region in the future."
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/
About Elite VDP Co., Ltd.
With over 30 years of establishment and development in the Vietnam market, Elite Van Dai Phat (VDP) is the leading provider of cleaning and hygiene solutions from prestigious partners in this field worldwide. Today, Elite VDP is a leading partner of many reputable brands with advanced and creative solutions such as NCL (USA), 3M (USA), IPC (Italy), SIMPPLE (Singapore) and many more.
For more information on Elite VDP, please visit: https://elite-vdp.com/vi/
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SIMPPLE LTD.
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Email: [email protected]
For investor and media queries, please contact: SIMPPLE LTD. Investor Relations Department Email: [email protected] SKYLINE CORPORATE COMMUNICATIONS GROUP, LLC Scott Powell President Email: [email protected]
