ELIVAAS Raises INR 87 Crores in Series B Funding Led by Vertex Ventures Southeast Asia & India

ELIVAAS, a leading luxury vacation rental platform, has successfully raised INR 87 Crores (approx USD 10.4 Million) in its Series B funding round, led by Vertex Ventures Southeast Asia & India. Existing investors Peak XV Partners’ Surge and 3one4 Capital also participated in the round, reinforcing continued confidence in the brand’s growth trajectory and market potential.

Backed by its latest funding round, the company is focused on deepening its market penetration by doubling down on its presence in high-potential leisure and business travel destinations across India. ELIVAAS also aims to expand its global footprint and strengthen brand visibility in India and international markets, reinforcing its position as a leading player in the luxury vacation rental ecosystem. ELIVAAS also plans to invest in cutting-edge technology to fuel its next stage of growth, boosting operational performance, transforming the customer journey, and strengthening brand growth in an increasingly competitive market. 

"We are thrilled to partner with Vertex Ventures SAE & India as we enter this new phase of growth and equally appreciative of the trust placed in us by our early backers Peak XV Partners’ Surge and 3one4 Capital . This round will enable us to not only grow aggressively in India but also lay the groundwork for international expansion. Our focus remains on leveraging technology to ensure seamless, high-quality experiences at scale while strengthening ELIVAAS as a trusted brand in luxury travel," said Mr. Ritwik Khare, Founder and CEO, ELIVAAS.

“We see a fast growing opportunity to leverage second homes supply to provide premium travel experiences in India via alternate accommodation. Elivaas is best suited to capture this market with their technology enabled platform and obsessive commitment to customer experience, which is loved by both home owners and consumers. We at Vertex Ventures SEA & India are excited to partner with Ritwik and Karan on realizing this massive opportunity.” Nikhil Marwaha, Partner, Vertex Ventures Southeast Asia & India.

Founded in 2023 by travel industry veterans Ritwik Khare and Karan Miglani, ELIVAAS aims to redefine second home ownership and luxury travel. In its Series A round in September 2024, the company raised $5 million, led by 3one4 Capital with participation from Peak XV Surge and angel investors. Over the last 2 years, the funding enabled ELIVAAS to enhance its proprietary technology platform, expand its operations, and launch its premium luxury brand, Privé while continuing to expand both ELIVAAS and AlayaStays

The brand currently operates in 30 Indian destinations, with 5X  year-on-year growth in revenue in FY 24-25..

The Series B fundraise marks a major milestone for ELIVAAS as it gears up to scale sustainably, backed by a strong technology foundation and a differentiated service proposition.