ELIVAAS raises $10 M Series B funding from Vertex Ventures Southeast Asia & India
In its Series B funding round, which was led by Vertex Ventures Southeast Asia & India, ELIVAAS, a luxury vacation rental platform with headquarters in India, successfully raised INR 87 Crores ($10.4 million).
According to a statement released by ELIVAAS on Tuesday, the round also included participation from current investors Peak XV Partners’ Surge and 3one4 Capital, demonstrating ongoing faith in the brand’s growth trajectory and market potential.
With the support of its most recent funding round, the company is committed to expanding its market reach by increasing its presence in India’s high-potential leisure and business travel destinations.
In order to solidify its position as a major participant in the luxury vacation rental market, ELIVAAS also seeks to increase its global presence and boost brand awareness in India and other markets.
In order to support its next phase of expansion, improve operational performance, revolutionize the customer journey, and fortify brand expansion in a market that is becoming more and more competitive, it also intends to invest in state-of-the-art technology.
“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,” said Ritwik Khare, Founder and Chief Executive Officer, ELIVAAS.
“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,” he added.
Nikhil Marwaha, Partner at Vertex Ventures Southeast Asia & India, stated that the company sees a rapidly expanding opportunity to use the supply of second homes to offer upscale travel experiences in India through alternative lodging.
“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,” he added.
Ritwik Khare and Karan Miglani, two seasoned travel industry veterans, founded ELIVAAS in 2023 with the goal of revolutionizing luxury travel and second home ownership.
The business raised $5 million in its September 2024 Series A round, which was led by 3one4 Capital and included angel investors and Peak XV Surge.
In addition to expanding both ELIVAAS and Alaya Stays, the funding allowed ELIVAAS to launch its premium luxury brand, Privé, improve its proprietary technology platform, and expand its operations over the past two years.
