Luxury vacation rental startup ELIVAAS has secured ₹87 crore in a Series B funding round led by Vertex Ventures Southeast Asia and India. This funding marks a major milestone for the company, which launched just two years ago and has already made its mark in India’s premium travel segment. The capital will help ELIVAAS deepen its presence in domestic markets and start expanding internationally, a move that could shape its future as a leading player in the luxury travel industry.
Investor Confidence and Funding Journey
The latest round drew strong participation from existing investors Peak XV Partners’ Surge and 3one4 Capital, both of which had backed ELIVAAS in earlier stages. Their renewed commitment shows how much faith they have in the company’s potential. In September 2024, ELIVAAS raised around ₹42 crore in its Series A round. That earlier funding helped the company scale rapidly and refine its technology-led model. Now, with the combined total funding standing at about ₹150 crore, ELIVAAS is ready to move into an even more ambitious phase of growth.
Founders and the Birth of the Brand
Founded in 2023 by industry veterans Ritwik Khare and Karan Miglani, ELIVAAS began with a simple yet powerful idea—to help second-home owners monetize their properties while offering travelers unique and luxurious stays. The founders drew on their deep knowledge of the travel and hospitality sector to design a platform that puts technology at the core of operations. From the start, ELIVAAS has aimed to connect property owners and guests in a way that feels effortless and premium for both sides.
Rapid Growth and Market Presence
In only two years, ELIVAAS has built a strong presence across 30 destinations in India. Its portfolio includes over 500 properties, ranging from high-end villas to premium apartments, in popular destinations such as Goa, Himachal Pradesh, Uttarakhand, Delhi-NCR, Maharashtra, and Kerala. These properties have already hosted around 150,000 guests, a clear sign that the platform is gaining traction. The company reported a five-fold increase in revenue in the 2024–25 financial year compared to the year before. While the previous year ended with ₹7 crore in revenue and a loss of ₹10.4 crore, the strong growth trend highlights the scalability of its model.
Expanding Footprint in India
A key part of ELIVAAS’s plan for the new funding involves strengthening its position in India. The company intends to deepen its presence in high-demand travel destinations, bringing more properties on board and enhancing the variety of stays it offers. By focusing on popular leisure and business hubs, ELIVAAS aims to become the first choice for travelers seeking upscale, private accommodations.
Entering the Global Stage
The Series B funds will also fuel the company’s first steps into international markets. The leadership team has set its sights on destinations such as the UAE, Sri Lanka, Bangkok, Bali, and other parts of Southeast Asia. These locations attract a mix of domestic and international travelers who value comfort, privacy, and exclusive experiences—qualities that ELIVAAS properties promise to deliver. The company’s entry into these markets could mark the beginning of its evolution from a domestic leader to a regional powerhouse.
Strengthening Technology and Brand Identity
Technology plays a central role in ELIVAAS’s operations, and the new funding will allow the company to invest even more in this area. The platform plans to enhance its systems for property management, housekeeping coordination, caretaker services, and guest experience monitoring. These improvements will help ensure smooth operations even as the company grows its property portfolio and enters new markets. In addition to technology upgrades, ELIVAAS will focus on building a strong brand identity that resonates with travelers worldwide. The goal is to make the ELIVAAS name synonymous with high-quality, personalized travel experiences.
Vision from the Leadership
Chief Executive Officer Ritwik Khare sees the partnership with Vertex Ventures as a pivotal moment for the company. He emphasizes the importance of using technology to deliver consistently high-quality stays at scale, while strengthening ELIVAAS’s reputation as a trusted name in luxury travel. Vertex Ventures partner Nikhil Marwaha has expressed equal confidence, noting that ELIVAAS is well positioned to lead in India’s premium travel market by turning underused second homes into highly sought-after holiday rentals.
Market Potential and Competitive Edge
The market for luxury travel in India is expanding quickly, driven by travelers who prefer private, spacious, and personalized accommodations over traditional hotels. ELIVAAS benefits from a curated approach that focuses only on high-quality properties. This ensures a consistent standard of luxury and builds trust among guests. Its technology-driven operations also give it an advantage in scaling without compromising on quality, a challenge that many hospitality businesses face.
Challenges Ahead
Despite the strong growth and investor support, ELIVAAS faces several challenges as it moves forward. Scaling rapidly without losing quality will require careful operational management. The costs of global expansion and continuous technology upgrades could impact profitability in the short term. Competition from global vacation rental platforms is another factor, especially in international markets where brand recognition will take time to build. Overcoming these challenges will require strategic planning and disciplined execution.
Looking Toward the Future
The leadership team envisions ELIVAAS becoming the go-to brand for luxury vacation rentals across Asia. The plan includes not just expanding the property portfolio, but also enhancing the overall travel experience through premium services and curated travel packages. As more travelers seek out personalized and high-end stays, ELIVAAS aims to position itself as the brand that delivers these experiences seamlessly.
Conclusion: A Defining Moment
The ₹87 crore Series B funding marks a defining chapter in ELIVAAS’s journey. From a young startup in 2023 to a fast-growing name in India’s luxury travel space, the company has shown that a focused vision, strong execution, and the right investor backing can create remarkable growth. With the resources to expand in India and explore global opportunities, ELIVAAS now has the chance to redefine how travelers experience luxury stays in this part of the world. If it can maintain quality while scaling, it could set new standards in the vacation rental industry.
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