Dubai-Based Traveltech Startup Lokalee Raises $5.6M Pre-Series A Round
The company aims to extend its footprint to Austria, Germany, and Saudi Arabia in 2023, and launch an AI-powered trip planner.
Dubai-based traveltech startup Lokalee has secured $5.6 million in a pre-Series A funding round led by Crown Private Fund, along with participation from three strategic investors with a strong background in the hotel and technology sectors.
Established in 2019 by Samir Abi Frem, Lokalee operates as a B2B platform, providing a solution for hotel guests to conveniently view and book accommodations along with associated amenities. The platform is utilized by 200 brands across 20 countries, including major names such as Movenpick, Sheraton, Rotana, Sofitel, Hilton, and Millennium.
“We are very pleased with the investor confidence in Lokalee, validating the potential of our platform across the global hospitality industry,” Samir Abi Frem, CEO of Advanced Digital Technology and Lokalee, tells StartupScene. “With this new source of funding, we are determined to accelerate our ambitious expansion to optimize the digitization of the guest journey for our customers.”
This recent funding injection will facilitate Lokalee's focus on product development and expedite its expansion into European markets. The company aims to extend its footprint to Austria, Germany, and Saudi Arabia in 2023, and plans to soon launch a trip planner that combines AI technology with curated human-provided data, offering an optimal blend of technological efficiency and personalized insights.
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Jan 31, 2024