Singapore-headquartered international design firm Space Matrix has acquired Pursuite, a B2B e-commerce platform in the hospitality sector. Pursuite provides online solutions for procurement of operational supplies and equipment (OS&E) and furniture, fixtures and equipment (FF&E) segments.
The acquisition of Pursuite will enable Space Matrix to drive new growth opportunities through disruptive technologies and innovation...More than 1500 vendors across key markets of India, Singapore, China and rest of Southeast Asia will be brought onboard Pursuite, the company said.
Its operations are spread across Asia and Europe. Post the acquisition, Pursuit founder and CEO, Amith Shukla has also joined the board of Space Matrix as its global chief technology officer (CTO).
Previously, Shukla served as the CTO of Koovs and now will be responsible for shaping Pursuite’s global technological vision and fostering new skills within the organisation tied to big data, analytics and machine learning.
“The process of procuring products and services to build an office is very archaic and is filled with multiple issues including cost and time unpredictability, quality and consistency of products, price transparency, governance and even product discovery. Hence, the applicability of a digital procurement platform like Pursuite for the workplace sector is immense," said Arsh Chaudhry, CEO of Space Matrix.
Founded in 2001, Space Matrix is a digital enterprise and a design consultancy that specializes in workplace design.
Space Matrix has been witnessing strong demand in India, Southeast Asia and Singapore owing to the increased adoption of hybrid work. The company’s global revenues are growing grow 54% year on year (YoY).