With a new initial fundraising round, Limestone Lab, an experience-driven hospitality firm with a purpose of bringing fresh and original hospitality concepts to the social and eating scene, announces intentions to build six additional unique concepts in the UAE.
Limestone Lab, a tech-enabled experiential hospitality group that creates, builds, and manages unique concepts, has raised $1 million in a pre-seed round of funding, following a $6 million initial round that was used to develop their pilot projects, Social Distrikt, and their newest concept, Peaches and Cream, which will open in 2022.
The present money will be utilised to develop four concepts, including the company’s pilot project, Social Distrikt, a newly opened urban dining and bar hall at The Pointe on the Palm Jumeirah. This was accomplished by fully funding the first two concepts and owning stakes as kept funds as development fee. The hospitality firm has already twice the initial investment raised of the two projects as part of the development fee, making it an appealing proposition for future investors.
Continuing to build on its success, the innovative hospitality group has announced plans to launch a Seed round in February with a goal of raising $2 million, with the proceeds going toward the development of a second team to bring six additional, unique concepts to market, each with a disruptive approach to traditional F&B brick-and-mortar models.
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”.
Hassan Ballout and Hani Doueik, Limestone Lab’s Co-Founders and Dubai-based serial entrepreneurs, have considerable market knowledge, outstanding operational expertise, and strong contacts with hospitality brands and investors. The company’s pipeline of bespoke F&B venues is nothing short of inventive and cultural, with participatory experiences and socially elevated ambiances mixed with culturally infused dishes and themes. Limestone Lab assembles a group of renowned designers, architects, and hospitality experts to construct intelligently designed properties in unexpected locations. In essence, all of the venues share the same goal: to create settings and experiences that will leave a lasting impression.
