Dubai-based interiors startup, Interact Group announced on Monday they have secured $3 million in a funding drive.
Founded in 2015, Interact Group is a specialist Interior Design and Fit Out Contractor focusing on the hospitality and F&B sectors. Over the past 18 months, Interact Group has secured a number of high-profile contract awards none more so than the award for the full fit out of the Park Regis Hotel in Jumeirah.
Interact Group said in a statement that the funding will be used to consolidate its Dubai business as well as expanding its services into new regions. The statement continued that Interact Group had also secured funding for the purchase of a state of the art joinery facility which would not only support Interact’s own business but also push to secure joinery packages from main contractors.
“Interact Group has over achieved since inception but this rapid growth added stress to our cash flow so closing this round of funding allows us to continue our upward
trajectory and set new standards in the UAE interiors market,” said Interact Group CEO Shane Curran.
“An added bonus to the funding is that our investors are major players in the UK construction market which will allow Interact to leverage from their years of experience. Interact Group's Interior Design department will also undertake the ID works for a number of our investors upcoming hotel projects in the U.K. Additionally, the purchase of our own 25,000sq foot joinery factory means we are truly delivering an end to end service with reduced reliance on subcontractors.”
“Currently the UAE market is not as robust as we would all hope for but we are predicting a sharp upturn in early 2018 and Interact Group will be primed to stake a claim for these upcoming projects.”
For more on Interact Group please visit www.interactgroupintl.com