Luxury vacation rental platform Elivaas in Gurugram raises $10 million in funding, planning for expansion

ELIVAAS, a luxury vacation rental platform based in Delhi NCR, has announced the successful completion of its Series B funding round. The latest funding round will enable the startup to grow aggressively in India and lay the groundwork for international expansion.

The funding round saw participation from luxury-focused venture firms, private equity investors, and existing investors such as Peak XV Partners' Surge and 3one4 Capital. Notably, Vertex Ventures Southeast Asia & India also joined as a partner in this round.

The Series B funding was primarily secured between late 2023 and mid-2024. The funds will be primarily used to boost operational performance, transform the customer journey, and strengthen brand growth. ELIVAAS is now focused on deepening its market penetration by doubling down on its presence in high-potential leisure and business travel destinations across India.

Ritwik Khare, CEO of ELIVAAS, stated that the focus remains on leveraging technology to ensure high-quality experiences at scale while strengthening ELIVAAS as a trusted brand in luxury travel. The startup currently operates in 30 Indian destinations.

The investment will also enable ELIVAAS to enhance its proprietary technology platform. The startup plans to invest in a cutting-edge technology to fuel its growth. As part of this, ELIVAAS will launch its premium luxury brand, Privé.

Nikhil Marwaha, Partner at Vertex Ventures Southeast Asia & India, expressed his excitement about ELIVAAS capturing the market with its technology-enabled platform and customer-focused approach. He further added that the partnership aims to realize the opportunity of leveraging second homes supply for premium travel experiences in India via alternate accommodation.

In a separate development, ELIVAAS also raised $5 million in a Series A round led by 3one4 Capital in September 2024. The startup was founded in 2023 by travel industry veterans Ritwik Khare and Karan Miglani. During this period, ELIVAAS and Alaya Stays were also expanded.

With this latest round of funding, ELIVAAS aims to expand its global footprint and strengthen brand visibility in India and international markets. The funding will not be repeated to be used for enhancing its proprietary technology platform, expanding operations, and launching its premium luxury brand, Privé, as mentioned earlier.