Elivaas, an innovative platform specializing in the management of luxury villas and apartments, has successfully raised $5 million in a Series A funding round led by 3one4 Capital.
Elivaas, an innovative platform specializing in the management of luxury villas and apartments, has successfully raised $5 million in a Series A funding round led by 3one4 Capital. The funding round also attracted participation from Peak XV’s Surge and several prominent angel investors. This new capital will enable Elivaas to enhance its proprietary technology platform, expand its market presence, and optimize operational efficiencies, all aimed at reshaping the luxury vacation rental landscape in India.
The luxury vacation rental market in India is on the verge of a major transformation, and Elivaas aims to lead this charge. “Backed by strong investors like 3one4 Capital and Peak XV’s Surge, we are committed to driving the future of this space with a focus on quality, technology, and unparalleled guest experiences,” stated Ritwik Khare, the founder and CEO of Elivaas. This vision is supported by a robust funding strategy that builds on the company’s prior success.
Elivaas had previously raised $2.5 million in November 2023 during its seed funding round, which was also led by Peak XV Partners’ Surge, a scale-up program for early-stage startups. This previous investment laid the groundwork for further growth and innovation, setting the stage for the current funding round.
Co-founded by Ritwik Khare and Karan Miglani, Elivaas is headquartered in Gurugram and offers a comprehensive management platform tailored for luxury villas and high-end apartments. The platform provides homeowners with tools to monetize, monitor, and maintain their properties efficiently. In addition to property management, Elivaas operates an online booking site, complete with an AI-based chatbot to streamline customer service.
While Elivaas focuses on luxury villas, it also operates a sister brand, Alaya Stays, which emphasizes premium apartments and villas. This dual-brand strategy allows Elivaas to cater to a broader audience, providing a range of high-end accommodation options.
Over the past year, Elivaas has made significant strides in the market, growing its portfolio to encompass more than 140 properties across key destinations in India. These locations include popular tourist hotspots such as Goa, Delhi NCR, Rajasthan, Maharashtra, Himachal Pradesh, and Uttarakhand. As India positions itself to become one of the largest domestic tourism markets, the demand for quality vacation rentals is set to increase, creating ample opportunity for Elivaas to expand its footprint.
Nitya Agarwal, vice president of Investments at 3one4 Capital, commented on this potential, stating, “With India poised to become one of the largest domestic tourism markets, there’s a clear gap to meet this growing demand. We’re excited to partner with Elivaas as they look to reshape the vacation rental landscape in the country.”
The funds raised in this Series A round will be instrumental in scaling Elivaas’s operations and enhancing its technological capabilities. By optimizing its platform, Elivaas intends to improve the overall guest experience and streamline property management processes. This strategic focus on technology not only positions the company as a leader in luxury vacation rentals but also ensures that it can respond swiftly to the evolving needs of the market.
As consumer preferences shift toward unique and luxurious travel experiences, Elivaas is well-positioned to capitalize on this trend. With its strong investment backing and a commitment to innovation, the company is set to lead the charge in the luxury vacation rental sector, providing homeowners and guests alike with exceptional value.
Elivaas’s recent funding success underscores the growing potential of the luxury vacation rental market in India. With a clear strategy, strong technological foundation, and a commitment to enhancing guest experiences, Elivaas is not just participating in this burgeoning sector; it is poised to redefine it. As the company looks to the future, its continued growth will undoubtedly impact how luxury travel is experienced in India and beyond.
