Singapore – Space Matrix, the sixth largest international design firm in the world with its headquarters in Singapore, has announced the acquisition of Pursuite, one of Asia’s first and largest B2B e-commerce platforms in the hospitality sector. Pursuite, with business operations access 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.
More than 1500 vendors across key markets of Singapore, India, 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 providing trusted and predictable experiences for its clients but shall revolutionise the way the industry currently delivers service,” said Arsh Chaudhry, CEO of Space Matrix.
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 organisation tied to big data, analytics and machine learning.
“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.