Vacation home rentals startup ELIVAAS raises $5 million in funding

Elivaas, a tech-driven platform specializing in luxury villas and apartment management, has raised $5 million in a Series A funding round led by 3one4 Capital.

The round also saw participation from Peak XV’s Surge and a group of angel investors. Prior to this round, the startup raised $2.5 million in November 2023, led by Peak XV Partners’ Surge and several notable angel investors. 

The startup plans to use the raised capital to enhance its technology platform, expand market presence, optimize operations, and improve the overall experience for both homeowners and guests.

What does Elivaas do?

Founded in 2023 by industry veterans Ritwik Khare and Karan Miglani, Elivaas is transforming India's premium vacation rental market. The platform combines cutting-edge technology with hospitality to offer luxury villa and apartment management services.

The startup claims to have grown quickly, managing over 140 properties in popular vacation destinations such as Goa, Delhi NCR, Rajasthan, Maharashtra, Himachal Pradesh, and Uttarakhand.

It focuses on delivering high-end vacation experiences for travellers while providing homeowners with tools to monitor, monetize, and maintain their properties.

Leadership's Vision for Growth

Speaking about the funding round, Ritwik Khare, Co-founder and CEO of Elivaas, said, “The luxury vacation rental market in India is primed for disruption, and we’re committed to leading that charge. Backed by 3one4 Capital, Peak XV's Surge, and strong angels, we aim to drive the future of this space with a vision rooted in quality, technology, and unparalleled guest experiences." 

Nitya Agarwal, Vice President of Investments at 3one4 Capital, said, "As India gears up to become one of the biggest domestic tourism markets, there is a gap in the market to cater to this ever-growing demand. We are excited to partner with Elivaas as they set out to revolutionise the future of vacation rentals in the country."