The company will utilize the capital to deepen its presence across India, prepare for strategic international expansion, and scale operations through advanced technology.
National, 12 August 2025 — ELIVAAS Raises INR 87 Crore in Series B Funding to Accelerate Expansion and Strengthen Leadership in Luxury Vacation Rentals
ELIVAAS, a leading luxury vacation rental platform, has announced the successful close of its Series B funding round, securing INR 87 crore (approximately USD 10.4 million). The round was led by Vertex Ventures Southeast Asia & India, with continued participation from existing investors Peak XV Partners’ Surge and 3one4 Capital, reaffirming strong investor conviction in ELIVAAS’s growth trajectory, brand strength, and market leadership.
Strategic Growth Plans
With this fresh infusion of capital, ELIVAAS will:
- Deepen market penetration across India by expanding into high-potential leisure and business travel destinations.
- Lay the foundation for international expansion, targeting select global markets to extend its luxury footprint.
- Invest in cutting-edge technology to enhance operational efficiency, personalize guest experiences, and drive scalable growth.
- Strengthen supply acquisition and partner success programs, while elevating guest service layers to build trust and drive repeat usage.
Leadership Commentary
“We are thrilled to welcome Vertex Ventures Southeast Asia & India as a strategic partner and deeply appreciative of the continued support from Peak XV Partners’ Surge and 3one4 Capital,” said Ritwik Khare, Founder and CEO of ELIVAAS. “This round empowers us to scale aggressively across India and begin our journey into international markets. Our focus remains on leveraging technology to deliver seamless, high-quality experiences at scale, while reinforcing ELIVAAS as the most trusted brand in luxury travel.”
Nikhil Marwaha, Partner at Vertex Ventures Southeast Asia & India, added: “We see a fast-growing opportunity to leverage second home supply to deliver premium travel experiences in India. ELIVAAS is uniquely positioned to capture this market with its tech-enabled platform and obsessive commitment to customer experience—loved by both homeowners and travelers. We’re excited to partner with Ritwik and Karan to realize this massive opportunity.”
Company Milestones
Founded in 2023 by travel industry veterans Ritwik Khare and Karan Miglani, ELIVAAS has rapidly scaled its operations. Following a successful Series A round in September 2024, where it raised USD 5 million led by 3one4 Capital with participation from Peak XV Surge and angel investors, the company:
- Enhanced its proprietary technology platform
- Expanded its operational footprint
- Launched its premium sub-brand Privé
- Continued growth of both ELIVAAS and Alaya Stays
Today, ELIVAAS operates across 30 Indian destinations, reporting 5X year-on-year revenue growth in FY 2024–25.
Looking Ahead
The Series B fundraise marks a pivotal milestone as ELIVAAS gears up for sustainable scale, powered by a robust technology foundation and a differentiated service proposition. Over the next 12–18 months, the company will focus on:
- Geographic Expansion: Coastal regions, hill stations, and emerging luxury micro-markets; pilot launches in select international hubs.
- Product Innovation: Dynamic pricing engine, loyalty programs, and enhanced trip-planning workflows.
- Service Enhancements: Expanded concierge network, curated experience partners, and standardized luxury amenities.
- Talent Acquisition: Hiring across product, engineering, revenue management, and ground operations to support growth and quality.
About ELIVAAS
ELIVAAS is a luxury vacation rental platform offering curated, premium stays across India’s most sought-after destinations. Combining high-touch hospitality with technology-driven operations, ELIVAAS ensures consistent standards, personalized experiences, and superior returns for property owners.
About the Investors
3one4 Capital: An early-stage VC firm partnering with mission-driven founders building category-defining companies in tech-led sectors.
Vertex Ventures Southeast Asia & India: A leading venture capital firm backing high-growth technology companies with regional and global potential.
Peak XV Partners’ Surge: The rapid scale-up program from Peak XV Partners (formerly Sequoia India & SEA), supporting early-stage startups across India and Southeast Asia.
