Local travel tech startup LokaLocal is set to expand, with new funding from a South Korean venture capital firm recently.
BonAngels’ investment in the Selangor-based company marks its first venture in Malaysia.
This opportunity will accelerate LokaLocal’s growth through its ongoing development of a one-stop integrated tech solution, acquisition of meaningful products and regional expansion.
BonAngels chief executive officer Simon Seok-heun Kang is banking on LokaLocal’s unique position in the Malaysian travel scene.
“LokaLocal is a company that genuinely discovers local attractions and has the ability of forming them into tours. As the tourism industry grows, we believe content uniqueness would be much more important,” he said, adding that the company’s network would be a huge asset.
One of LokaLocal’s plans is to work alongside cultural space owners and event organisers. This will help promote Malaysia’s vibrant culture and art scene through digital opportunities. LokaLocal founder and chief executive officer Chin Yoon Khen said the funding will enable the startup to solidify its business.
“We can already see the growing interest in off-the-beaten-track experiences over mass tourism,” he said.
Established in 2016, LokaLocal is the largest experienced-based platform in Malaysia. It connects travellers to over 800 unique tours and workshops, while creating economic and social impact for 700 local hosts.
The company has since worked with Selangor and Perak state governments to unveil new experiences as part of the national initiative under VisitMalaysia 2020.
LokaLocal’s website (www.lokalocal.com) is expected to unveil a new look by early next year.