UAE’s Lokalee drives expansion into Europe via $5.6mln funding round

UAE’s Lokalee drives expansion into Europe via $5.6mln funding round

Dubai-based Lokalee, an AI-powered content platform for hotels and holiday homes, has secured $5.60 million in a pre-series A funding round, according to a press release. The investment will further boost Lokalee’s accelerated product development efforts as well as its expansion into European markets. The fundraising transaction was led by Crown Private Fund and three other strategic investors with hotel and technology backgrounds. Lokalee is a business-to-business (B2B) content platform developed to enhance guest interactions, simplify operations, and increase potential revenue. The company’s portfolio currently stands at 250 hotels after expanding into Austria, Germany, and Saudi Arabia in 2023. Furthermore, the development plans include the launch of a trip planner integrating AI technology with curated data provided by humans to offer the best synthesis of both worlds. Samir Abi Frem, CEO of Advanced Digital Technology and Lokalee, commented: “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.” All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info). UAE’s Lokalee drives expansion into Europe via $5.6mln funding round