People, systems and equipment need to work together in seamless sync for a building or a portfolio of buildings to operate with continuous efficiency. The traditional mode in which facilities management operates has been through multiple applications and hardware, that act independently, in individual data silos, with diverse interfaces and varied price points—all of them adding to the complexity of managing a building efficiently in real-time. Since most of these tools are designed to operate independently, buildings struggle to achieve portfolio-wide efficiencies.
Chennai-based start-up Facilio has set out to change this. As a facilities optimisation platform, it uses Internet of Things (IoT) and Artificial Intelligence (AI) to drive sustainable operational efficiency across commercial real estate (CRE) portfolios, or across a portfolio of buildings. Its objective is to allow building owners and facilities management (FM) companies to gain central control and visibility, and manage every day building operations efficiently and sustainably. In short, it is ‘facilities on autopilot’.
“Buildings are an integral part of our existence, and they have the power to impact and improve billions of lives if they work in continuous efficiency. We believe that if we can harness technology to empower buildings to create impactful experiences for everyone interacting with it every day,
we will spur a much-needed disruption for the built environment. This is how the idea of Facilio came to be,” said Prabhu Ramachandran, CEO and co-founder, Facilio.
The founding team of Facilio comprising Ramachandran, Rajavel Subramanian and Yogendra Babu worked together at Zoho Corporation for almost 17 years, where they created, built, and scaled up cloud and IoT applications. Apart from their expertise in product, business and engineering, all three shared the belief that technology can be leveraged to create the best possible ‘positive impact’ in the world.
“At Facilio, our strategic objective is to use IoT as an enabler technology to solve the challenges faced by today’s facility management teams,” said Ramachandran. The start-up has partnered with Accel since its inception in April 2017.
“We are expanding into the Middle East and the US markets as we see a lot of untapped potential for the efficiencies we can bring to the built environment. In line with this, we are in the process of building a strong partnership network in these regions to expand our reach,” said Ramachandran.
Commercial real estate professionals use Facilio to achieve superior building performance by unifying their workforce, assets, and energy efficiency in real-time. “We’ve built Facilio as a unified suite of applications that harnesses IoT and AI to deliver centralised asset and energy performance, and mobile maintenance to facilities,” he said.
The Facilio platform integrates with existing building systems without uprooting expensive infrastructure or adding any new sensor. “When you look at innovation, on the whole, the biggest challenge any provider faces is in its immediate adoption. We have overcome that challenge with all the companies we reached out to in the beta phase. Once the companies experienced Facilio, they were able to see their problems in context. These companies loved how a single solution maximised their facilities experience for everyone interacting with it in real-time,” he said.
Within this disruptive transformation, Facilio has found its opportunity. Currently, the global buildings software market stands at a whopping $30 billion. And it is expected to double in a few years. “That’s the market opportunity we are going after. The facilities management spend is currently tagged at $ 1.3 trillion globally. If you look at energy spend by buildings, it is $ 400 billion today. Any added value or any increase in efficiency we can bring here will be enormous,” Ramachandran said.