Fairfax-controlled Thomas Cook to buy into travel-tech startup Ithaka
10/11/2018|6:30:52 PM|Vccircle

Tour operator Thomas Cook (India) Ltd is foraying into the travel-tech space with a planned undisclosed investment in Traveljunkie Solutions Pvt. Ltd, which runs Ithaka, an app offering chat-based real-time travel advice from destination experts.

Thomas Cook will acquire 24% stake in Mumbai-based Traveljunkie, which recommends destinations and help people plan their trips and book activities, hotels and flights, the tour operator said in a stock-market disclosure. Traveljunkie serves people traveling to Thailand, Indonesia and Turkey.

The startup earns revenue by charging commissions to operators and vendors selling local activities and experiences. Users are not charged anything.

Traveljunkie had raised Rs 2.1 crore ($325,000) in seed funding from a clutch of angel investors based in the US, Singapore and India in March last year. Pulse co-founder Ankit Gupta and Jet Airways employee Puneet Motihar also put in money.

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