Interior design firm Space Matrix takes over B2B platform Pursuite

Interior design firm Space Matrix takes over B2B platform Pursuite

by Pranali Mehta

Singaporean office interior design firm Space Matrix has reportedly acquired a B2B e-commerce website Pursuite, which is one of the largest Asian platforms for selling and purchasing furniture and related equipment.

Arsh Chaudhry, CEO, Space Matrix, said that the process of procuring services and products in order to build a workspace is very outdated and experiences several issues such as the unpredictability of cost and time, consistency and quality of items, governance, price transparency, and product discovery.

And for this reason, digital procurement platform, such as Pursuite itself, has major applicability in the workplace industry.

Chaudhry added that being a design and build firm having high procurement volumes, it is a natural progression for it to set up a commerce platform that is also consistent with Space Matrix’s plans to become a tech-first firm.

Space Matrix has its presence in the United States, mainland China, Hong Kong, Thailand, Singapore, the Philippines, India, and Australia, while Pursuite operates across Asia and Europe.

The design firm will be bringing over 1,500 vendors across India, Singapore, China, along with the rest of Southeast Asia to Pursuite’s platform.

The acquisition would also enable Space Matrix to eye growth opportunities as it plans on using machine learning and artificial intelligence for mining data and offering valuable insights to its clients when working on future office designs.

Arsh further said that Space Matrix plans on expanding its operations further in Southeast Asia and that its acquisition of Pursuite will help the firm streamline and enhance its capabilities for delivering projects.

It has been claimed that another reason behind the acquisition is the robust demand for redesigning offices in Singapore, India, and the rest of Southeast Asia as businesses try to adapt to flexible working arrangements due to the pandemic.

Amit Shukla, Founder and CEO, Pursuite, said that with Space Matrix’s annual throughput of clients and business, the firm will be able to deploy its technology-based solutions immediately to address the gap between the procurement process and its supply chain in the workplace sector

Shukla will also be joining Space Matrix as its global chief technology officer.

Source credit: https://www.scmp.com/business/article/3182273/singapore-office-design-firm-space-matrix-acquires-b2b-e-commerce-site

Pranali Mehta

A chemical engineer by qualification, Pranali Mehta dutifully walked down the slated path and worked in a chemical firm for a year. Her passion for writing however, pushed her into experimenting with the same as a career. With over three years of experience in content writ Read more...