International design firm Space Matrix announced the acquisition of Pursuite, a B2B e-commerce platform in the hospitality sector.
Pursuite, with business operations across Asia and Europe, is an online solution for procurement of Operational Supplies & Equipment (OS&E) and Furniture, Fixtures & Equipment (FF&E) segments.
Amit Shukla, Founder and CEO of Pursuite and Former CTO of KOOVS, joins Space Matrix as the Global Chief Technology Officer, (CTO). He will be responsible for shaping the company’s global technological vision, leading cutting-edge, market-ready technology solutions across regions and fostering new skills within the organization tied to big data, analytics and machine learning. Amit has more than a decade of experience in business management, product development and cross-platform technologies. He has been a key mentor of several online startups, helping them define and scale products, harvest technologies and streamline operations.
As a part of the acquisition, more than 1500 vendors across key markets of India, Singapore, China and rest of Southeast Asia will be brought onboard Pursuite, a statement said.
“This acquisition is a game changer for the industry. 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. The acquisition of this technology and the exceptional team lead by Amit will not only accelerate Space Matrix’s vision to provide trusted and predictable experiences for its clients but shall revolutionise the way the industry currently delivers service”, said Arsh Chaudhry, CEO of Space Matrix.
“The procurement process and the associated supply chain in the workplace sector is extremely disjointed and technology has a significant role to play in solving it. We were trying to address this opportunity as an independent technology service provider however with Space Matrix and its annual throughput of clients and business across Asia, we have the ability to immediately deploy our technology solutions against a very large TAM and hit the ground running a lot faster”, said Amit Shukla.
“This proprietary technology platform will enable vertical integration for Space Matrix and help transition a fragmented workplace design and build industry into a unified ecosystem and provide a seamless end-to-end experience, offering our customers a compelling value proposition currently not available in the industry,” Chaudhry continues.
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