Space Matrix announces the acquisition of e-commerce platform Pursuite
Space Matrix has announced the acquisition of Pursuite, one of Asia’s largest B2B e-commerce platforms 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, committed to revolutionising industry practices of procurement management.
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.
The acquisition of the e-procurement platform will enable Space Matrix to drive new growth opportunities through disruptive technologies and innovation. The company will also bring into play Artificial intelligence (AI) and Machine Learning (ML) into the data of design to provide valuable insights for its clients in designing future offices and executing projects with enhanced effectiveness and efficiency.
“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.
Space Matrix has seen strong demand in India, across South-East Asia and Singapore given the adoption of hybrid work practices and corporates choosing to re-design their existing workplaces on post-pandemic design principles. The company’s global revenues continue to grow 54% year on year.
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