Homzmart Acquires German Tech Company
The Egyptian Furniture Marketplace Is A Digital Platform Connecting Home Goods And Furniture Manufacturers And Brands With End Consumers.
Homzmart has announced the acquisition of Berlin-based technology company MockUp Studio as it bids to add to its product offering.
Homzmart’s platform and its end-to-solutions enable both retailers, including the likes of IKEA and Home Centre by helping them easily reach customers, and consumers who have a hassle-free, one-stop-shop shopping experience, with greater choice and flexible financing options.
The startup closed a US$15 million Series A funding round in May 2021, tripled in size over the course of the year, and expanded to Saudi Arabia, and it has now acquired MockUp Studio as it executes on its strategy to consolidate the full home goods and furniture value chain.
MockUp Studio’s technology will allow Homzmart users to visualize their furnished home in minutes. The acquisition means Homzmart will digitize the whole interior design process, starting from an empty room – exploring different layouts, finishings and floorings with different sets of Homzmart’s catalogue assortment – shown as a 360-degree view.
Mahmoud Ibrahim, Homzmart Co-Founder said: “We are delighted to complete this acquisition in Germany, and start integrating MockUp Studio’s technology into Homzmart’s product family. We have been very clear that our intention is to grow rapidly, expand regionally, and consolidate the whole furniture value chain. We are successfully doing all these things, and this M&A is a solid step in our value chain strengthening.”
“Our philosophy is all about transforming the furniture experience for consumers and sellers. Adding MockUp Studio’s technology means consumers can have the full interior design experience – browsing Homzmart’s entire catalogue, and viewing their desired space, in just a few clicks. MockUp Studio is a perfect partner to welcome to Homzmart and I know consumers will be delighted when they experience the new technology later this year,” Ibrahim added.