Cairo-based furniture e-commerce startup, Homzmart has announced its acquisition of Germany’s Mockup Studio.
The acquisition was made for an undisclosed amount. This comes after Homzmart closed a $15 million Series A round in 2021 from investors MSA Capital and Nuwa Capital.
Homzmart is a furniture and home decor marketplace that seeks to digitize and transform the shopping of furniture and home goods. The startup helps customers by providing them with a wide range of furniture to choose from.
The company was founded in 2019 by Mahmoud Ibrahim and Ibrahim Mohamed, and became operative in 2020.
Commenting on the acquisition, Homzmart’s CEO and co-founder, Mahmoud Ibrahim, says, “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.”
According to Homzart, the acquisition of MockUp Studio technology will allow consumers to create a perception of their homes in minutes, as Homzmart will digitize the entire interior design process, with a vision of empty rooms, helping customers visualize the furniture they want within.
Homzmart further explains that the acquisition will digitize the whole interior design process in minutes, 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.
MockUp was founded in 2014 by Monica Riad. The studio uses artificial intelligence and advanced computer vision on its data driven platform to allow users to visualize the kind of interior design they want with matching furniture.
This acquisition is part Homzmart’s strategy to expand and develop products and the experience provided in relation to the furniture, goods and household appliances business.
Homzart confirmed that the integration of MockUp Studio into Homzmart’s operations will begin immediately.
It is anticipated that the full home visualization and interior design experience will be available to Homzmart’s consumers in the fourth quarter of the year.
