According to a press release, Egyptian furniture, and home products eCommerce startup, Homzmart has acquired German technology firm MockUp Studio.
About Homzmart
Homzmart is a digital platform that connects home goods and furniture makers and brands with end consumers. It was launched in early 2020 by Mahmoud Ibrahim and Ibrahim Mohamed.
Homzmart’s platform and its end-to-end solutions enable both retailers, such as IKEA and Home Centre, by making it easier for them to reach customers, and consumers, who benefit from a hassle-free, one-stop-shop buying experience, and more flexible financing choices.
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.
Transforming Furniture Experience for Consumers
Homzmart users will be able to visualize their equipped house in minutes thanks to MockUp Studio’s technology. Homzmart will use the acquisition to digitize the entire interior design process, starting with an empty room and exploring different layouts, finishes, and floorings with different sets of Homzmart’s catalogue assortment, all displayed in a 360-degree view.
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“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,” said Ibrahim.
“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.”