
ELIVAAS, a luxury vacation rental platform, has raised INR 87 crore (about $10.4 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India.
Existing investors, including Peak XV Partners’ early-stage accelerator Surge and venture firm 3one4 Capital, also joined the round.
The company plans to use the funds to expand across India, enter new countries, and increase its brand visibility.
“We are thrilled to partner with Vertex Ventures SAE & India as we enter this new phase of growth and are 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.
“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 its 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.
Founded in 2023 by Ritwik Khare and Karan Miglani, Gurugram-based Elivaas operates a management platform for villas and luxury apartments, helping owners earn from, manage, and maintain their properties.
Focused on second-home owners and vacation renters, the company has hosted about 1,50,000 guests so far.
The company plans to grow to popular destinations like the UAE, Sri Lanka, Bangkok, and Bali, and later expand to other parts of Southeast Asia.
It serves two main types of customers—those booking for personal trips and those booking for business. Personal stays account for about 65–70% of its business, while the newer business travel segment makes up around 30%.