BonAngels leads funding in LokaLocal
By Digital News Asia November 21, 2018
- LokaLocal is the largest experienced-based platform in Malaysia
- Currently connects travellers to over 800 unique tours and workshops
SOUTH Korean venture capital firm, BonAngels Venture Partners, announced that it is leading its first investment in Malaysia with travel tech start-up LokaLocal.
In line with their vision to expand the growth of promising Southeast Asian companies, BonAngels is adding LokaLocal to its portfolio of about 140 startups in Korea, Japan, the US and Southeast Asia, including Vietnam, Thailand, Indonesia and Malaysia.
CEO of BonAngels, Simon Seok-heun Kang said, “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 important. LokaLocal’s whole network and learnings would truly be a huge asset.”
This investment will accelerate LokaLocal’s growth through its ongoing development of a one-stop integrated tech solution, acquisition of meaningful products and regional expansion.
One of its plans is to work alongside cultural space owners and event organisers, in turn promoting Malaysia’s vibrant culture and art scene through digital opportunities. The company will also expand to 50 more cities, towns and villages within the next year.
Founder and CEO of LokaLocal Chin Yoon Khen added, “We can already see the growing interest in off-the-beaten-track experiences over mass tourism. This new funding will enable LokaLocal to further solidify its leading position in Malaysia.”
Established in 2016, LokaLocal is the largest experienced-based platform in Malaysia. Currently, it connects travellers to over 800 unique tours and workshops, while delivering economic and social impact to 700 local hosts.
In 2017, the company was awarded the Best Social Impact Award by the Mekong Innovative Startups in Tourism (MIST). It also reached the Top 25 at the K-Startup Grand Challenge (KSGC 2017).
LokaLocal has since worked with tourism arms of Selangor and Perak state government to unveil new experiences as part of the national initiative under Visit Malaysia 2020, and looks forward to working with other state boards.
Its website is expected to release its new look by early 2019.