Dubai-based Lokalee, an AI-powered content platform for hotels and holiday homes, today announced details on its latest successful round of investment, resulting in USD 5.6 million received in pre-series A funding. The injection of capital combined with Lokalee’s growth will further fuel the company’s accelerated product development efforts as well as its expansion into European markets.
Led by Crown Private Fund, the USD 5.6 million investment also featured contributions from three other strategic investors with hotel and technology background. The increased access to capital is further strengthened by Lokalee’s growth in customer portfolio with 250 hotels currently using the Lokalee solution as well as their expansion into Austria, Germany and Saudi Arabia in 2023. Immediate development plans include the launch of a trip planner combining AI technology with curated data provided by humans, offering the best synthesis of both worlds.
Lokalee is a B2B content platform specifically developed for hotels and holiday homes, designed to enhance guest interactions, simplify operations, and increase potential revenue. The customizable white-label platform allows guests to browse and book everything a property and the destination has to offer, sourced by Lokal Curators and supported by global partners.
Trusted by over 200 brands across 20 countries, Lokalee’s platform has already been implemented at leading hotel groups such as Movenpick, Sheraton, Rotana, Sofitel, Hilton, Millennium among others.
“We are very pleased with the investor confidence in Lokalee, validating the potential of our platform across the global hospitality industry. 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,” said Samir Abi Frem, CEO of Advanced Digital Technology and Lokalee.
The post LOKALEE RAISES USD 5.6 MILLION OF PRE-SERIES A FUNDING TO DRIVE PRODUCT DEVELOPMENT AND EXPANSION INTO EUROPE appeared first on Hotel News ME.
