ELIVAAS Secures ₹87 Crore in Series B Funding from Vertex Ventures to Elevate Luxury Vacation Rentals Platform

Luxury Vacation Rental Platform ELIVAAS Secures $10.4 Million in Series B Funding

New Delhi, India – ELIVAAS, a rapidly growing luxury vacation rental platform, has announced the successful completion of its Series B funding round, raising INR 87 Crores (approximately $10.4 million USD). The investment was led by Vertex Ventures southeast Asia & India, with continued participation from existing investors Peak XV Partners’ Surge and 3one4 Capital.

Founded in 2023 by seasoned travel industry professionals Ritwik Khare and Karan Miglani, ELIVAAS is focused on transforming the second home ownership and luxury travel experience. This latest funding will be instrumental in accelerating the company’s expansion plans both within India and internationally.

ELIVAAS intends to utilize the capital to deepen its presence in key leisure and business travel destinations across India, while together preparing for a strategic expansion into global markets. A notable portion of the investment will also be directed towards bolstering the company’s technological infrastructure. This includes enhancing operational efficiency, refining the customer journey, and strengthening brand development in a competitive landscape.”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,” stated Ritwik Khare, Founder and CEO of 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.”

Nikhil Marwaha, Partner at Vertex Ventures Southeast Asia & India, echoed this sentiment, stating, “We see a fast growing chance to leverage 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 home owners and consumers. We at Vertex Ventures SEA & India are excited to partner with Ritwik and Karan on realizing this massive opportunity.”

ELIVAAS previously secured $5 million in its Series A round in September 2024, led by 3one4 Capital, with participation from Peak XV Surge and angel investors. This initial funding facilitated the development of the company’s proprietary technology platform, operational expansion, and the launch of its premium luxury brand, Privé, alongside continued growth of ELIVAAS and Alaya Stays.

Currently operating in 30 destinations across India, ELIVAAS reported a five-fold increase in year-on-year revenue growth during FY 24-25. The Series B funding signifies a pivotal moment for the company as it aims for lasting scaling, underpinned by a robust technology foundation and a unique service offering.

What key market trends are driving teh growth of the luxury vacation rental market, and how is ELIVAAS positioned to capitalize on them?

Funding Details & Investor Viewpoint

ELIVAAS, a rapidly growing luxury vacation rental platform, has successfully closed a ₹87 Crore (approximately $10.4 million USD) Series B funding round led by Vertex Ventures. This significant investment signals strong confidence in ELIVAAS’s business model and its potential to disrupt the premium hospitality sector. Existing investors also participated in the round, demonstrating continued support for the company’s vision. vertex Ventures, known for its investments in high-growth technology companies, sees ELIVAAS as a key player in the evolving landscape of luxury travel and choice accommodations. the funding will be strategically allocated to fuel expansion, enhance platform capabilities, and bolster the brand’s presence in key markets.

ELIVAAS: A Deep Dive into the Platform

ELIVAAS differentiates itself within the competitive vacation rental market by focusing exclusively on high-end properties. Unlike broader platforms, ELIVAAS curates a collection of villas, estates, and unique homes offering remarkable quality, privacy, and bespoke services.

Here’s what sets ELIVAAS apart:

Curated Selection: Rigorous property vetting ensures consistently high standards.

Concierge Services: Dedicated concierge support provides personalized assistance before, during, and after stays. This includes arranging private chefs, transportation, and local experiences.

Technology-Driven Experience: A user-amiable platform with advanced search filters, secure booking processes, and seamless communication tools.

Focus on Luxury Travel: Catering to discerning travelers seeking exclusive and memorable vacation experiences.

Geographic Focus: Currently operating in popular destinations across India and expanding internationally.

How the Funding Will Be Utilized

The ₹87 Crore investment will be deployed across several key areas to accelerate ELIVAAS’s growth trajectory. these include:

1. Technology Enhancement: Investing in AI-powered personalization, improved property management systems, and enhanced mobile app functionality. This will improve user experience and streamline operations.
2. Market Expansion: Expanding ELIVAAS’s footprint to new domestic and international destinations. Target markets include Southeast Asia, the Maldives, and select european locations.
3. Inventory Growth: Aggressively expanding the portfolio of luxury properties through strategic partnerships with property owners and developers.
4. Team Expansion: Recruiting top talent in technology, marketing, and customer service to support the company’s rapid growth.
5. Marketing & Brand Building: Increasing brand awareness through targeted marketing campaigns and strategic partnerships with luxury travel agencies and influencers.

The Rise of Luxury Vacation Rentals: Market Trends

The luxury vacation rental market is experiencing significant growth, driven by several key trends:

Demand for Privacy & Space: Post-pandemic, travelers are increasingly prioritizing privacy, space, and self-sufficiency, making vacation rentals a more appealing option than customary hotels.

Experiential Travel: A growing desire for authentic and immersive travel experiences, which luxury vacation rentals can readily provide.

Bleisure Travel: The blurring lines between business and leisure travel, with professionals extending work trips to include vacation time.

Increased Disposable Income: A growing affluent population with the financial means to invest in premium travel experiences.

Digital Nomadism: The rise of remote work has fueled the demand for longer-term vacation rentals in desirable locations.

These trends position ELIVAAS for continued success as it caters to the evolving needs of the luxury travel market. Related search terms include “luxury villa rentals,” “premium vacation homes,” and “exclusive travel accommodations.”

Vertex Ventures’ Investment Rationale

Vertex ventures’ decision to led the Series B funding round underscores their belief in ELIVAAS’s potential to become a leading player in the luxury vacation rental space.their investment thesis centers around:

Strong Unit Economics: ELIVAAS demonstrates a clear path to profitability with healthy margins and efficient operations.

Scalable Business Model: The platform is designed for rapid scalability, allowing ELIVAAS