Thomas Cook (India) Limited has approved a supplemental agreement with Atirath Technologies to co-develop a Travel AI Platform through their joint venture, Indian Horizon Marketing Services Limited. Both partners will maintain equal 50:50 shareholding, reinforcing their commitment to innovation in India’s travel technology sector.
Thomas Cook India announced today that its Board Sub-Committee has approved the execution of a supplemental agreement with Atirath Technologies. The move underscores the company’s growth strategy and focus on leveraging artificial intelligence to enhance travel services in India.
Strategic Partnership For AI Travel Innovation
The joint venture, Indian Horizon Marketing Services Limited, will continue operations in India with equal participation from both partners. The fresh subscription amount under the supplemental agreement will be directed toward developing proprietary AI-driven solutions for the travel domain.
Rationale And Benefits
The initiative aims to create a suite of intellectual property tailored for the travel industry, enhancing customer experience and operational efficiency. With authorized capital of INR 9.96 crores, the JV is positioned to drive innovation and support Thomas Cook Group’s broader digital transformation.
Key Highlights
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TCIL and Atirath maintain 50:50 shareholding in JV
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Focus on co-developing Travel AI Platform
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JV operations limited to Indian markets
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Equal participation in management and decision-making
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Authorized capital of INR 9.96 crores
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Expected benefits include proprietary AI solutions for travel domain
Sources: Company filing with BSE and NSE