Design firm Space Matrix acquires B2B e-commerce platform Pursuite

By Atiqah Mokhtar / EdgeProp Singapore | June 15, 2022 12:19 PM SGT
Space Matrix has announced the acquisition of B2B e-commerce platform Pursuite (Photo: Space Matrix)
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SINGAPORE (EDGEPROP) - Singapore-headquartered design firm Space Matrix has announced the acquisition of B2B e-commerce platform Pursuite for an undisclosed sum. Amit Shukla, founder and CEO of Pursuite, also joins Space Matrix as its global chief technology officer (CTO).
The acquisition will enable Space Matrix to drive new growth opportunities through disruptive technologies and innovation, the company states in a June 15 press release.
Pursuite in an online platform offering procurement of operational supplies and equipment (OS&E) as well as furniture, fixtures and equipment (FF&E) within the hospitality sector. It currently has operations across Asia and Europe.
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Arsh Chaudhry, CEO of Space Matrix calls the acquisition “a game changer for the industry”, noting that a digital procurement platform like Pursuite has immense applicability within the workplace sector which faces issues such as cost and timing unpredictability and inconsistency in quality.
Pursuant to Space Matrix’s acquisition of the firm, more than 1,500 vendors across Singapore, India, China and the rest of Southeast Asia will be brought onboard Pursuite.
“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.
Shukla echoes the sentiment, noting that Space Matrix will help Pursuite expand its reach within the workplace sector. “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 (total available market) and hit the ground running a lot faster,” he shares.
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