Based in Dubai, the successful newest investment round of Lokalee, an AI-powered content platform for hotels and vacation rentals, was revealed today, with USD 5.6 million in pre-series A capital secured. The funding infusion and Lokalee’s entry into European markets will both be aided by the company’s increased efforts at product development.
Three other strategic investors with backgrounds in technology and hotels contributed to the USD 5.6 million investment, which was spearheaded by Crown Private Fund. Further bolstering the enhanced capital accessibility is Lokalee’s expanding customer base—250 hotels are now utilizing the Lokalee solution—and their planned 2023 entry into Austria, Germany, and Saudi Arabia.
Launching a travel planner that combines AI technology with human-curated data—the best of both worlds—is one of the immediate development plans.
The purpose of Lokalee, a B2B content platform, is to improve visitor experiences, streamline operations, and boost potential revenue for hotels and vacation rentals. Powered by worldwide partners and curated by Lokal Curators, the customisable white-label platform lets guests explore and book everything a property and the destination have to offer.
The platform from Lokalee, which is trusted by more than 200 companies in 20 countries, has already been used by prestigious hotel chains like Movenpick, Sheraton, Rotana, Sofitel, Hilton, and Millennium, among others.
“We are thrilled that investors have faith in Lokalee, as it confirms the platform’s potential in the international hospitality sector. The CEO of Advanced Digital Technology and Lokalee, Samir Abi Frem, stated, “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.”
