Thomas Cook India announced that its board has agreed to acquire 24% stake in travel technology startup TravelJunkie Solutions. The transaction will be done through Thomas Cook’s wholly owned subsidiary TC Tours. The financial details of the transaction have not been disclosed yet.
TravelJunkie Solutions is parent company of Ithaka. Ithaka is a chat-based mobile application. It serves Free Individual Travellers (FIT).
“We are very excited with this strategic investment that also marks our first investment in the exciting travel tech space. Ithaka is a perfect marriage of cutting edge technology and human expertise delivered in a user- friendly mobile chat format. For Thomas Cook, the partnership with Ithaka creates a fresh channel that serves and reaches millennials, while for Ithaka, an end-to-end is delivered because of it, bookable experience. The continuing business design resonates with the hybrid technology and personalisation approach of the Thomas Cook Group,” said Madhavan Menon, Chairman, Thomas Cook India Group.
Ithaka was founded by Ameya Sahasrabudhe, Mithilesh Said and Rahul Singh in 2015. It is a chat-based mobile application.
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