As it seeks to expand its product offering, Egyptian startup Homzmart, the Middle East’s biggest furniture and home products marketplace platform, has announced the purchase of Berlin-based technology company MockUp Studio.
Homzmart is a digital marketplace that connects home products and furniture makers and brands with end consumers. It was hard-launched in early 2020 by Mahmoud Ibrahim and Ibrahim Mohamed.
Homzmart’s platform and end-to-end solutions benefit both merchants, 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.
In May 2021, the firm raised $15 million in a Series A financing, quadrupled in size in a year, and moved to Saudi Arabia, and it has now acquired MockUp Studio as part of its ambition to centralise the whole home goods and furniture value chain.
Homzmart consumers will be able to see their equipped house in minutes thanks to MockUp Studio’s technology. Homzmart will use the acquisition to digitise the whole interior design process, starting with an empty space and exploring alternative layouts, finishes, and floorings with different sets of Homzmart’s catalogue selection, all displayed in a 360-degree perspective.
“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.”
