ELIVAAS Secures Major Funding for Global Luxury Travel Dominance
August 12, 2025, 9:36 pm
ELIVAAS, a leader in luxury vacation rentals, has secured $10.4 million in a pivotal Series B funding round. Vertex Ventures Southeast Asia & India spearheaded the investment. Existing backers Peak XV Partners’ Surge and 3one4 Capital also participated. This capital injection accelerates ELIVAAS’s aggressive expansion within India. It prepares the company for strategic entry into global markets. The funding also targets significant technology enhancements.
Founded in 2023 by travel industry veterans Ritwik Khare and Karan Miglani, ELIVAAS operates within the booming second-home ownership and luxury travel sectors. The Gurugram-based company manages high-end villas and luxury apartments. Its platform enables property owners to monetize, oversee, and maintain their assets seamlessly. ELIVAAS primarily targets second-home owners and discerning vacation rental travelers. It has served an impressive 150,000 guests to date.
This latest Series B round builds on prior success. In September 2024, ELIVAAS raised $5 million in a Series A funding round. That round was led by 3one4 Capital. Peak XV Surge and angel investors also contributed. With this new capital, ELIVAAS’s total funding reaches approximately $18 million. This strong financial backing underscores investor confidence in its business model and growth trajectory.
The newly acquired funds will propel ELIVAAS’s strategic objectives. A primary focus is deepening its presence across key leisure and business travel destinations in India. The company aims for further market penetration. It seeks to consolidate its leadership in the domestic luxury rental space. Simultaneously, ELIVAAS prepares for ambitious international expansion. This groundwork for global markets marks a significant step.
Technology remains central to ELIVAAS’s strategy. A substantial portion of the new investment will enhance its technological capabilities. This improvement aims to refine operations. It will elevate the overall customer experience. The company’s digital platform powers every aspect of its business. This includes housekeeping, caretaking, homeowner interactions, and guest services. Advanced technology ensures seamless, high-quality experiences at scale. It maintains ELIVAAS’s competitive edge.
ELIVAAS already boasts a significant operational footprint. It is present across 30 destinations in India. The company manages over 500 properties nationwide. Its reach spans eight states. Current coverage includes North India, West India, Goa, and South India. Goa remains the top revenue generator. However, expansion efforts have yielded strong growth elsewhere. Himachal Pradesh, Delhi-NCR, and Uttarakhand are now major contributors. Maharashtra and Kerala are rapidly emerging as key growth areas. Future plans involve extending into India’s East and Northeast regions.
Global aspirations are clear. ELIVAAS intends to explore select international markets. Key initial targets include the UAE, Sri Lanka, Bangkok, and Bali. Subsequent phases will see expansion into other parts of Southeast Asia. This international push positions ELIVAAS as a global player in luxury accommodations. It diversifies its market reach.
The luxury vacation rental market presents a vast opportunity. Industry experts recognize the potential to leverage second-home supply. This creates premium travel experiences. Alternate accommodations are gaining significant traction. ELIVAAS estimates this market will be worth at least $20 billion by 2030-2032. The sheer volume of new real estate construction in leisure cities supports this optimistic forecast. ELIVAAS is strategically positioned to capture a substantial share of this growing market.
ELIVAAS has demonstrated remarkable performance. It reported a fivefold increase in revenue during FY 2024–25 compared to the previous year. This rapid growth validates its operational model and market demand. The company offers a diverse portfolio under various brands. This includes its core ELIVAAS offerings, AlayaStays, and Privé. Privé represents a premium luxury brand, introduced with earlier funding.
The business operates with two primary segments. Personal use cases account for the majority of revenue, roughly 65-70%. The newer business use segment currently makes up about 30%. This diversification allows ELIVAAS to cater to a broader client base. It taps into both leisure and corporate travel needs.
This latest funding round reinforces ELIVAAS’s market leadership. It empowers continued innovation. It supports aggressive expansion plans. The company's commitment to technology and customer experience remains paramount. ELIVAAS is poised for sustained growth and dominance in the evolving luxury travel sector. Its vision is clear: deliver unparalleled, high-quality experiences globally.
Founded in 2023 by travel industry veterans Ritwik Khare and Karan Miglani, ELIVAAS operates within the booming second-home ownership and luxury travel sectors. The Gurugram-based company manages high-end villas and luxury apartments. Its platform enables property owners to monetize, oversee, and maintain their assets seamlessly. ELIVAAS primarily targets second-home owners and discerning vacation rental travelers. It has served an impressive 150,000 guests to date.
This latest Series B round builds on prior success. In September 2024, ELIVAAS raised $5 million in a Series A funding round. That round was led by 3one4 Capital. Peak XV Surge and angel investors also contributed. With this new capital, ELIVAAS’s total funding reaches approximately $18 million. This strong financial backing underscores investor confidence in its business model and growth trajectory.
The newly acquired funds will propel ELIVAAS’s strategic objectives. A primary focus is deepening its presence across key leisure and business travel destinations in India. The company aims for further market penetration. It seeks to consolidate its leadership in the domestic luxury rental space. Simultaneously, ELIVAAS prepares for ambitious international expansion. This groundwork for global markets marks a significant step.
Technology remains central to ELIVAAS’s strategy. A substantial portion of the new investment will enhance its technological capabilities. This improvement aims to refine operations. It will elevate the overall customer experience. The company’s digital platform powers every aspect of its business. This includes housekeeping, caretaking, homeowner interactions, and guest services. Advanced technology ensures seamless, high-quality experiences at scale. It maintains ELIVAAS’s competitive edge.
ELIVAAS already boasts a significant operational footprint. It is present across 30 destinations in India. The company manages over 500 properties nationwide. Its reach spans eight states. Current coverage includes North India, West India, Goa, and South India. Goa remains the top revenue generator. However, expansion efforts have yielded strong growth elsewhere. Himachal Pradesh, Delhi-NCR, and Uttarakhand are now major contributors. Maharashtra and Kerala are rapidly emerging as key growth areas. Future plans involve extending into India’s East and Northeast regions.
Global aspirations are clear. ELIVAAS intends to explore select international markets. Key initial targets include the UAE, Sri Lanka, Bangkok, and Bali. Subsequent phases will see expansion into other parts of Southeast Asia. This international push positions ELIVAAS as a global player in luxury accommodations. It diversifies its market reach.
The luxury vacation rental market presents a vast opportunity. Industry experts recognize the potential to leverage second-home supply. This creates premium travel experiences. Alternate accommodations are gaining significant traction. ELIVAAS estimates this market will be worth at least $20 billion by 2030-2032. The sheer volume of new real estate construction in leisure cities supports this optimistic forecast. ELIVAAS is strategically positioned to capture a substantial share of this growing market.
ELIVAAS has demonstrated remarkable performance. It reported a fivefold increase in revenue during FY 2024–25 compared to the previous year. This rapid growth validates its operational model and market demand. The company offers a diverse portfolio under various brands. This includes its core ELIVAAS offerings, AlayaStays, and Privé. Privé represents a premium luxury brand, introduced with earlier funding.
The business operates with two primary segments. Personal use cases account for the majority of revenue, roughly 65-70%. The newer business use segment currently makes up about 30%. This diversification allows ELIVAAS to cater to a broader client base. It taps into both leisure and corporate travel needs.
This latest funding round reinforces ELIVAAS’s market leadership. It empowers continued innovation. It supports aggressive expansion plans. The company's commitment to technology and customer experience remains paramount. ELIVAAS is poised for sustained growth and dominance in the evolving luxury travel sector. Its vision is clear: deliver unparalleled, high-quality experiences globally.