The acquisition indicates Homzmart’s success in implementing its strategy to consolidate the whole home goods and furniture value chain, and it aligns with the company’s vision to transform how consumers shop for and furnish their houses. Consumers will be able to visualize their furnished home 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, finishings, and floorings with different sets of Homzmart’s catalogue assortment, all displayed in a 360-degree view. For consumers, the end result is a perfect representation of their desired space. They can also view and interact with the entire Homzmart catalog with only a few clicks. MockUp Studio will be integrated into Homzmart’s operations as soon as possible. Homzmart customers may expect to have access to the full house visualization and interior design experience in the fourth quarter of this year. Homzmart’s CEO and co-founder, Mahmoud Ibrahim, 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.” MockUp Studio digitizes furniture store images quickly and effectively using Artificial Intelligence and advanced computer vision. The technology recognizes photos and uses them to mix and match items according to interior design guidelines. The technology also considers the desired space’s size, room layout, and furniture placement. The algorithms in MockUp Studio pick the ideal furniture to meet the user’s preferences and the room’s architecture. The acquisition comes on the heels of Homzmart’s quick expansion, with operations having tripled in size by 2021 as a result of high consumer demand. Homzmart also expanded into Saudi Arabia in November 2021, a $15 billion market with a 10% CAGR per annum. Homzmart is backed by investors including MSA Capital – a global investment firm with over $1.5 billion in assets under management; Nuwa Capital, Rise Capital, Impact46, EQ2 Ventures, and Outliers Ventures.
