South Korean venture capital firm BonAngels Venture Partners has led an undisclosed investment in Malaysia-based travel startup LokaLocal. With this investment, LokaLocal becomes BonAngels’ first Malaysian portfolio company. The venture capital firm has previously invested in around 140 companies in Korea, Japan, the US and Southeast Asia. LokaLocal said it will use the proceeds to accelerate its growth through its integrated tech solution, acquisition of meaningful products and regional expansion. The company aims to cover 50 cities, towns and villages within the next year.
“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,” said LokaLocal founder and CEO Chin Yoon Khen.