ELIVAAS raises Rs 87 Cr in Series B round led by Vertex Ventures Southeast Asia & India

Luxury vacation rental platform ELIVAAS on Tuesday said it has raised Rs 87 crore (approximately $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.

The company will utilise the capital to expand in India, prepare for global markets, and scale operations through technology. The company plans to deepen its presence in key leisure and business travel destinations across India, while also exploring select international markets. ELIVAAS intends to enhance its technology capabilities to improve operations and the overall customer experience, aiming to stay competitive in the evolving luxury vacation rental space.

"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 Ritwik Khare, Founder and CEO, ELIVAAS.

ELIVAAS, founded in 2023 by travel industry professionals Ritwik Khare and Karan Miglani, operates in the second home ownership and luxury travel space. In September 2024, the company secured $5 million in a Series A funding round led by 3one4 Capital, with participation from Peak XV Surge and angel investors. The capital has been channelled into upgrading its technology platform, widening its operational footprint, and introducing a premium luxury brand, Privé, in addition to expanding its existing offerings under ELIVAAS and AlayaStays.

The brand has a presence across 30 destinations in India and reported a fivefold increase in revenue in FY 2024–25 compared to the previous year.

“We see a fast-growing opportunity to leverage the 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 homeowners and consumers. We at Vertex Ventures SEA & India are excited to partner with Ritwik and Karan on realising this massive opportunity,” added Nikhil Marwaha, Partner, Vertex Ventures Southeast Asia & India.