Yet another Online Travel Agent is looking to raise funds: Yatra Online is raising Rs 200 crore from Valiant Capital, Norwest Venture Partners and Intel Capital, reports The Economic Times. Norwest Venture Partners, Reliance Capital, Network 18 and Intel Capital have previously invested Rs 150 crore in the company. Some parts of the funds will be used for expanding Yatra's holiday and hotel booking segment, and for acquisitions, Yatra CEO Dhruv Shringi has told the publication. Speaking at a recent conference, Shringi had said that domestic flight sales account for one third of all online sales for Yatra, International flight sales are just at 2%-3% at this time, and the sale of holiday packages is minuscule. Yatra is aggressively pitching its holiday packages and reducing costs by chartering flights, to fuel sales. The company also plans to use part of the funding to expand branding and marketing activity in tier-2 and tier-3 cities. It also plans to strengthen its offline network and increase the number of its physical stores to 50 from the existing 34 over the next one year. Financials According to a report filed with India's Registrar of Companies, for the year ending 31st March 2010, Yatra Online Private Limited reported Net Loss (before tax) of Rs. 8.26 crore, down year on year from Rs. 14.09 crore. During the year, the company reported gross billings (including Rs. 78 crore inbound billing by other agents) of Rs. 1032.50 crore for 'Air passage', Rs. 48.2 crore in hotel bookings, and Rs. 21.1…
