Luxury vacation rental platform Elivaas has raised $10.4 million in Series B funding to deepen market penetration, specifically in “high potential leisure and business travel destinations across India.”
The round was led by Vertex Ventures Southeast Asia & India, with existing investors Peak XV Partners’ Surge and 3one4 Capital also participating.
In addition to strengthening brand visibility in India, Elivaas said it exploring international expansion and investing in technology.
Subscribe to our newsletter below
“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 Elivaas founder and CEO Ritwik Khare.
The India-based company was founded in 2023 and currently operates in 30 Indian destinations.
Last September, Elivaas secured $5 million in Series A funding to expand its platform and operations, including its Alaya Stays collection focusing on boutique experiences in apartments and villas. Funds were also used to launch its premium luxury brand, Privé, which offers personalized services and curated villas.
“We see a fast growing opportunity 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,” said Nikhil Marwaha, partner at Vertex Ventures Southeast Asia & India.
“We at Vertex Ventures SEA & India are excited to partner with Ritwik and Karan on realizing this massive opportunity.”