US architecture and design materials marketplace Material Bank has acquired UK interior design procurement firm Clippings.
The American firm has bought 100 per cent of the London-based company for an undisclosed sum in a move that it claims will help transform the design sector via technology.
"This sector is one of the few remaining sectors that really has not been touched significantly by technology," Clippings executive chairman and co-founder Adel Zakout told Dezeen.
"If you kind of zoom out and look at the way business is done in the design, real estate and construction sector, it's still a very low single-digit percentage that goes through some kind of online presence."
"So I think there's this huge, huge opportunity in this industry." Acquisition comes after Material Bank raises $100 million
Material Bank, which currently only operates in the USA and Canada, provides architects and designers with a one-stop shop for material samples.
Founded in 2019, the service is free to designers and promises next-day delivery for samples of fabrics, finishes, tiles and other materials ordered via the Material Bank website.
Samples are picked and packed by robots and humans at Material Bank's vast distribution warehouse at Olive Branch, Mississippi. The company raised $100 million in a funding round in May this year, valuing it at almost $1 billion.
Above: Clippings founders Adel Zakout and Tom Mallory. Top image: Adam Sandow in Material Bank's robot-...