Tourism Breaking News
Limestone Lab, an experience-driven hospitality group, with a vision of launching new and innovative hospitality concepts to the social and dining scene, announces plans to develop six more unique concepts in the UAE with a new seed funding round.
Limestone Lab, the tech-enabled experiential hospitality group, which creates, builds, and manages unique concepts, has presently raised an amount of $1 million through a pre-seed round of investment, following raising $6 million in their initial round, which was used to develop their pilot projects,Social Distrikt, and their latest concept launching in 2022, Peaches and Cream. The current funding was used towards the conceptualization of four concepts, including the company’s pilot project, Social Distrikt, the newly launched urban food & bar hall located at The Pointe at the Palm Jumeirah.This was achieved by owning stakes as retained capital as development fee by fully funding the initial two concepts. As part of the development fee, the hospitality group has thus far doubled the initial investment raised of the two concepts, making it an attractive opportunity for future investors.
Continuing to leverage their success, the innovative hospitality group has announced its plans to launch its Seed round in February with the aim of raising $2 million, to which the company will develop a second team to establish 6 additional, unique concepts to the market, with a disruptive approach to the traditional brick-and-mortar models for the F&B sector.
Commenting on this, CEO and Co-Founder, Hassan shares, “Since the launch of Limestone Lab, we have witnessed a growing appetite from investors who resonate with our passion and vision, and as a result we have had the ability to raise investment at an exponential rate on our sub projects. With our second round of investment in February, we can see a promising few years ahead, with a total of 14 additional, awe-inspiring social and dining venues under Limestone Lab’s umbrella”.
The Co-Founders of Limestone Lab, Dubai-based serial entrepreneurs, Hassan Ballout and Hani Doueik, hold extensive market knowledge, excellent operational expertise, and strong relationships with hospitality brands and investors. The company’s solid pipeline of bespoke F&B venues is nothing short of innovative and cultural, boasting of interactive experiences and socially-elevated ambiances, which are paired with culturally-infused cuisines and themes. Limestone Lab brings together a team of prominent designers, architects, hospitality experts to create thoughtfully designed properties located in unexpected destinations. In essence, all the venues are unified by a common goal: to create spaces and experiences that hold lasting memories.
