Govicle is a leading technology company that bespoke propelling innovation and competitive edge.
Govicle Sdn Bhd (formerly known as JomParkir Sdn Bhd) is a leading technology company that bespoke propelling innovation and competitive edge. The company’s growth prospect is to be the first and largest Vehicle-to-Everything (V2X) tech company in Southeast Asia. With the aim to build the first vehicle data exchange in Southeast Asia, Govicle is strongly poised to capitalize on market opportunities as they champion the following solutions
IoT (Internet of Things)
SI (System Integrator)
With humble beginnings since 2015, Govicle has rapidly gained over 500,000 registered users and 5 million transactions annually. Govicle started by leading the digitalization of the parking industry in Malaysia and diligently expanded to SEA countries by providing innovative parking solutions with enhanced systems and technology.
The company has now expanded its business and will be introducing Malaysia’s very first V2X oriented super app focused on providing various services under one umbrella. Govicle will pioneer as an OS that unbundles the tyranny of apps as it serves as a portal to the Internet for mobile-first generation.
Govicle has over 20 sites nationwide and 2 sites globally is Saudi Arabia and Sri Lanka. In Q2 2020, JomParkir launched two new sites at Tanah Merah, Kelantan and Taman Mutiara Raya Cheras. The company has recorded a 200% growth rate since 2018. The upswing to its growth performance is encouraging given that the company has in its pipeline 17 new site launches - 10 in the domestic front and seven abroad.
Join us as an equity investor and be part of history in the making as we strive to be the leading and largest Vehicle-to-Everything (V2X) tech company in Southeast Asia.
Best IoT Startup 2018, Malaysia Rice Bowl Startup Award
Best IoT Innovation Award 2018, Cradle Coach & Grow Program season 4 (CGP4)
Malaysia Top 5 finalist 2018, Most Innovative financial technology product, FinTech Finals Pitch Competition
Top 10 Selangor Accelerator Programme 2019, Selangor Information Technology and E-Commerce Council (SITEC)
Top 35 finalist 2018, AmBank BizRACE Entrepreneurship Challenge
Cradle Startup Ambassador Award 2019
MARii Mobility-as-a-Service (MaaS) Scale Up Programme 2019
There is an unidentified demand when it comes to managing our vehicle needs. Common problems that we often find ourselves in includes,
Forgetting to renew our road tax and insurance
Missing the date to service our vehicle
Forgetting where we park our car
Prompt roadside assistance
Immediate SOS button for when emergency strikes
Parking payment hassle
Living in a digital age, we opt to download multiple apps to service our vehicle needs which results in the excess use of space in our phone and this defeats the purpose of the app serving as a convenience.
Govicle has designed an application that will provide a centralized solution in one application to cater to all your vehicle needs and more. This includes:
All in one experience in one app – it shortens the way to the desired action (convenience)
A variety of services under one umbrella
Allows for a uniform and individual user experience whilst saving phone memory
Multiple revenue streams
Incredible volumes of vehicle data
Govicle application's value lies in the simple and comfortable connection of all our daily vehicle activities in one application. Having conquered the parking industry as one of the pioneer of digital parking payments, Govicle will expand and include a large suite of services including Smart Parking, Smart Servicing, Smart Agent, Smart Security and Smart Ticketing, Govicle envisions to be the chosen super-app that provides a myriad of robust services under one single roof.
JomParking® is a user-friendly smart parking app that provides a hassle-free parking experience that is fast, cashless, and safe. With the highest rating in AppStore and PlayStore, the app allows users to go cashless with a myriad of payment options. Available for both on-street and off-street parking areas nationwide, the app is fully integrated and allows users to receive real-time notification on their parking status to avoid parking summons.
JomForce is a product and service that caters to enforcers. The system enables enforcers to validate parking transactions via real-time reports through a custom build device and software that is more effective as enforcers are able to monitor civilians' parking statuses systematically.
JomValet is a mobile app for valet operators to manage their parking services more competently. With configurable tariff and fast deployment, the app provides an efficient way to track all issued tickets with real-time reports. This results in a smooth and more feasible operation as parking operators can prevent revenue leakage and save up to 30% of their operating costs.
JomAgent is a digitalised portable e-ticketing system that provides an eco-friendly system. With the implementation of JomAgent's system, local councils are able to reduce their CAPEX & OPEX by 20%. This promising system is an efficient alternative in support of green technology.
Govicle’s application design is laser focused on providing a smooth and friendly user experience. It incorporates all 5 pillars of services in a single application. Users will be able to perform multiple activities and transactions all in one application.
The potential market size for Govicle is so vast as the Malaysian automotive industry is the third-largest in Southeast Asia, and the 23rd largest in the world, with an annual production output of over 500,000 vehicles. The transport ministry says that according to road transport department (JPJ) data, there are now 31.2 million units of motor vehicles registered in Malaysia as of December 31 last year, as Bernama reports. The total includes cars, commercial vehicles and motorcycles.
Living in the digital age and almost everybody owns a smartphone. In Malaysia alone, there are over 30 million smartphone users. On top of that, according to Fortune Business Insight, the global automotive V2X market size is expected to reach USD 10,318.3 Million by 2027, exhibiting a CAGR of 52.4% during the forecast period. We foresee that the customer's experience will be rapidly shifting from traditional methods into digital.
V2X solutions are fairly new in the market and there are no clear competitors locally or regionally. Through the study we have conducted, Govicle’s direct competitions in terms of services includes CARPUT, MyCar and MyAssist whilst our indirect competition in terms of e-wallet and super app providers includes Careem, Grab, Gojek, Touch n Go and Maybank e-wallet.
Govicle started by leading the digitalization of the parking industry in Malaysia and diligently expanded to SEA countries by providing innovative parking solutions with enhanced systems and technology. With over 20 sites nationwide and international expansion into Saudi Arabia and Sri Lanka. Govicle has rapidly gained over 500,000 registered users along with over RM28 million cumulative GMV and 5 million transactions annually. Govicle’s parking application is the highest-rated parking app to date.
10-20% revenue sharing from gross transactions based on project size.
5-15% revenue sharing from value added services such as insurance renewal, vehicle maintenance services through direct integration with third party service providers.
10-20% of advertisement placements from clients, partners and external parties. .
20-30% margin from hardware and software solutions.
Govicle has reached its first milestone which is Smart Parking in which our company has doubled the initial investment of RM4 million into approximately RM10 million in just one year.
Govicle has recently launched 2 new sites in Q2 of 2020 which includes Majlis Perbandaran Tanah Merah (MDTM), Kelantan and Taman Mutiara Raya Cheras. With over 20 sites nationwide and 2 sites globally in Saudi Arabia and Sri Lanka, Govicle in the pipeline is currently focused on expansion into Indonesia, Philippines, Thailand and Bangladesh. We aim to cover all other major countries in SEA in just 3 years time.
The capital we received from our previous investors were allocated mostly on the research and development of our products and services. Nonetheless, we managed to grow our user base by 500% in just 2 years. We were able to grow our user base rapidly with minimal marketing spend which is evident from our CAC of RM2.34 and CMGR of 5.66%.
Govicle is laser focused on our journey to be the leading V2X technology company in the region with plans of market adoption and regional expansion within the next 4 years.
In accordance with our financial projection, we will be getting over RM40 million in 2021 alone and ultimately reach RM140 million by 2023. The projection foresees an increment of 100% annually.
We are currently raising RM5 million with RM35 million pre-money valuation from pitchIN investors to be utilized in the following manner:
Marketing – 35%
Advertisement and promotion
Exhibition and conference
Product Development - 25%
Research and development
Capital Expenditure(CAPEX) - 20%
Regional Expansion - 10%
Setting up companies in SEA countries
Strategic Resources/Connection - 10%
Enhancing and strengthening partnership and collaboration with brands within the mobility industry
The company’s vision is to be the leading Vehicle-to-Everything (V2X) tech company in Southeast Asia. The vision is supported by our strong belief in forging win-win strategic collaboration from parking to all vehicle-related industry partners.
Strategic goals that we wish to achieve include, leading the digitalization of the parking industry in Southeast Asia as well as building the first vehicle data exchange in Southeast Asia to ultimately make our mark as the leading Vehicle-to-Everything technology provider in SEA.
Govicle successfully secured the Cradle CIP500 grant in the year of 2017 to better commercialize and market our products to other Southeast Asia countries.
In addition, the company secured an additional RM4 mil capital from Kairous Capital in the year 2018. Kairous Capital is a regional private equity and venture capital investment firm focusing on mid-sized company investments in Greater China and ASEAN regions.
KEY MANAGEMENT PERSONNEL
Muhamad Nasir Habizar – CEO & Founder
8+ years experience in Celcom as System Analyst
Serial entrepreneur with more than 16 years running business experience centred on Information & Communication Technology (ICT), SMS content, and mobile apps development.
Rozaida Ali – Director and Co-Founder
6 years of experience in sales and marketing focused on Information & Communication Technology (ICT), SMS content, and Information Technology (IT).
4 years of experience in the print business.
4+ years as an F&B entrepreneur.
Mohd Fariz – Chief Operations Officer
20 years of experience in IT industry specializing in Network & Systems
Worked with GLCs such as MIMOS and HeiTech Padu group
Tengku Razman Othman - Advisor
Successful Growth Hacker with over 25 years of experience from tech titans such as Huawei and Nokia to innovator startups.
Govicle's management team is 10 members strong and brings together different expertise and experiences from a broad range of industries highly focused on accelerating smart mobility solutions.
Govicle has been featured in local and international news outlets and bagged numerous prestigious awards.
- No shares will be allotted or issued based on this document after six months from the closing of the offer period.
- This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission under section 212(8) of the CMSA 2007.
- This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission does not recommend nor assumes responsibility for any information including any statement, opinion or report disclosed in relation to this fund raising exercise and makes no representation as to its accuracy or completeness. The Securities Commission expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.
Please login as an investor to see more information.
Growth Series: Funding & Market Access
Interested to know about how the current market works and how you can make it work for you? Well, you might want to free your schedule this Friday morning on 26 March! This webinar is hosted by the president of NEF Malaysia, Khairil-Iszudin, headlined by esteemed speaker Mohd Ritahudden Makip from SME Corp. Malaysia and our very own Mr. Nasir Habizar from Govicle!
Entrepreneurs rejoice as this webinar session will shed light on various programmes under SME Corp. Malaysia such as:
SME Status: Policy Monitoring & Inclusive Development (ID) Division
SCORE: Program Coordination (PC) Division
BEEP: Bumiputera Business Development (BBD) Division
GEB: Bumiputera Business Development (BBD) Division
But that’s not all! Our CEO and Founder of Govicle Sdn. Bhd, Mr Nasir Habizar is also here to share his experiences and recommendations in securing financial assistance from SMEs Go Global Programme.
Did we pique your interest? You can catch the live webinar session on Airmeet from 9.30 AM to 11.30 AM!
Govicle Recognised as One of Malaysia's Notable Technology Company
We are pleased to be recognised as one of the notable technology companies by Cradle. Govicle kick started our startup journey in 2017 with out first funding from Cradle's grant. To date, Cradle has assisted over 900 technology companies to attained commercialisation and success. Other tech companies that Cradle has taken note of includes @grabmy, @imoney_my, @maeko_malaysia, @servmy, @naluri_my, @wobbjobs and so many others to become entrepreneurial icons and respected names in the ecosystem across ASEAN, proving the effectiveness of Cradle’s formulae in building world class technology companies.
#Govicle #JomParking #V2X #SI #IoT #CreatingLeadingStartups #technology #innovation #malaysianstartups
MARii Mobility World: What's Next for Smart Parking Payment?
Plug in with MARii (Malaysia Automotive Robotics and IoT Institute) and Govicle for an insightful discussion on what's next for Smart Parking Payment at the following link:
Industry players expect 2021 to be bumper year for some sectors
KUALA LUMPUR, Dec 22 -- While 2020 is without doubt, a year of surprises with challenges and opportunities presented by the COVID-19 pandemic, industry players are expecting a bumper year for certain industries in 2021.
Uni Enrol Malaysia chief executive officer (CEO) Rickson Khaw said some industries are expected to do much better next year as they put in a lot of effort to provide better services to their customers.
"For example, businesses with products or services that are accessible online will be at an all-time high next year. They will improve what is lacking and deliver better services," he said during a Cyberview Tech-Talk webinar, ‘Business Flashback of 2020 and Insights towards 2021’, here today.
Khaw expects the first six months of 2021 to be somewhat similar to what is currently happening and anticipates a recovery in the second half of up to 70 per cent of pre COVID-19 level.
Meanwhile, Govicle (formerly known as JomParkir) CEO Muhamad Nasir said the extra effort will pay off, and cashless solution or online solution will be one of the big things to happen next year because of the pandemic.
He said the positive trend is expected to continue next year, particularly for cashless solution, remote related services as well as services that are related to technology.
Grab Malaysia public affairs and policy director Ebi Azly Abdullah said most of the COVID-19 effect on digital transformation was the acceleration of the progress of moving digital.
"The pandemic has taught us that businesses that are not digitalised are not going to survive, and so we can no longer place digitalisation as an option.
"On the gig economy model, currently it is expected to stay, as it has been an integral part of the new economy or new normal. The problem is that no one truly understands or has defined it properly whether the government or industry players," he said.
He said Grab Malaysia would continue to work with the authorities to ensure that gig work is fair, inclusive and sustainable for all.
"In order to do all these, partnerships will be the key to us, we want to be an enabler. People have already said that Grab is dominant or monopoly because of the earlier businesses or merges, but in reality as we grow, we want to be an enabler and assist the country and the market,” he said.
-- BERNAMA (https://www.bernama.com/en/business/news.php?id=1915034)
After 500k Users & A Global Expansion, Here’s What M’sian Startup JomParking Will Do Next
When your user base just keeps growing, I’m pretty sure you can confidently take it as a sign that what you’re offering is something much needed.
Since its launch in 2015, JomParking has had over 500k user downloads, an ever-increasing number from their achievement of 1,790 users in the first year.
Nasir, CEO and founder of JomParking reflected on this growth, telling Vulcan Post, “There’s a definite change in users going digital. We’ve seen a rapid and major increment of users annually.”
People are also more likely to turn to technology to solve problems nowadays, paying for parking included.
“In addition, with the current COVID-19 pandemic, our numbers are increasing as people are more inclined to opt for contactless payment options to make their parking experience stress-free,” he said.
Steadfastly Parked In The Hearts Of Its Users
Even in its early years, it felt as though JomParking had thought of everything. They gave users as much info as possible: the area, zone name, its parking rates, and operating hours.
If your mum couldn’t find a parking machine and didn’t have a phone, or wasn’t savvy enough to use the app? They already had an “add another vehicle” feature that let you pay for her, anytime, anywhere.
Now, they’ve added the option for users to get notified if they receive parking summons, although this has only been rolled out in Tanah Merah District Council, Kelantan, for now. They’re in the process of implementing it in other areas too.
Some other features they’ve added to the app include:
Transaction history, for users who wish to claim their parking payments,
Tokens that don’t expire (RM1 = 100 tokens, the app’s currency to pay for parking),
Token sharing, so users have more options for managing tokens.
Recently, DBKL’s announcement of working with multiple cashless parking payment apps caused a bit of an uproar when JomParking wasn’t initially revealed as one of them.
Users found it odd, as they were already accustomed to using JomParking in DBKL areas since 2015, back when it was the only cashless payment in the area.
This was later resolved, and JomParking was back to being active in DBKL areas, much to the relief of their users.
Moving Into Corporate Partnerships
Being a startup, JomParking realised the importance of visibility early on. So they joined MaGIC’s first cohort of their Global Accelerator Programme (GAP) and were able to showcase their solutions to industry experts and potential investors.
Today, they’re able to stay connected to the community through exhibitions, events, and talks, all of which have opened doors of opportunities for the team.
They’ve even been able to showcase their products and services abroad at the InnoVEX exhibition in Taipei, Taiwan, for example.
JomParking has ventured into corporate partnerships as well, and one of their most recent is with a VC from South Korea, TheVentures.
“Our strategic partnership with TheVentures will enable us to enhance our systems and technology in our efforts to lead the digitalisation of the parking industry in Southeast Asia,” Nasir said.
“This is in line with our aim to build the first vehicle data exchange in Southeast Asia, whilst spearheading the parking industry’s transition into adopting the Smart City concept.”
To make this a reality, they’re working closely with other agencies such as MaGIC, MARii, MDEC, SITEC, Cradle and Cyberview.
Driving Growth Locally & Globally
“Ultimately, the aim is to cover the whole of Malaysia as the potential of digitalising parking is vast and nationwide,” Nasir answered, when Vulcan Post asked about some of the next areas JomParking wanted to move into.
Currently, JomParking has over 20 sites nationwide, and 2 sites globally in Saudi Arabia and Sri Lanka.
Even during the CMCO, they were able to launch 2 new local sites, one of which was the aforementioned Tanah Merah, Kelantan, and Taman Mutiara Raya, Cheras.
In the pipeline, they’ve got 17 new site launches lined up—10 in the domestic front, and 7 abroad.
With every site launch, they’d carry out 2-week long, on-ground marketing activities to get the news out.
On top of that, they also carry out various online campaigns, and have worked with notable brands such as Grab, Huawei, AirAsia, and iflix.
It’s true that there are other players in the cashless parking payment scene, but Nasir doesn’t see the competition as something to be too worried about.
Competition to him is just a means to keep pushing for innovation, and every business has its own advantages and disadvantages.
He even added rather diplomatically, “JomParking is happy to not only share the trick of the trade with other states that are interested to digitalise their parking payment system, but also to co-exist with other applications.”
Please login or sign up to see the discussions.