The funds will be used to scale the company’s proprietary technology platform, expand its market presence and optimize operations, Elivaas said Friday.
“He Luxury vacation rentals “The Indian market is ripe for disruption and we are committed to leading that change. With the backing of 3one4 Capital, Peak XV’s Surge and strong private investors, we aim to drive the future of this space with a vision built on quality, technology and unparalleled guest experiences,” said Ritwik Khare, Founder and CEO of Elivaas.
Gurugram-based Elivaas was co-founded by Khare and Karan Miglani and offers a luxury villa and apartment management platform that helps owners monetize, monitor and maintain their properties. The startup also runs an online booking site and has an AI-based chatbot for customer service.
While Elivaas specialises in luxury villas, its sister brand Alaya Stays focuses on premium apartments and villas.
Over the past year, Elivaas has grown to over 140 properties across major destinations in India including Goa, Delhi NCR, Rajasthan, Maharashtra, Himachal Pradesh and Uttarakhand.
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In November 2023, Raised $2.5 million in a seed round Elivaas is led by Surge, Peak XV Partners’ expansion programme for early-stage startups. “India is poised to become one of the largest domestic tourism markets, so there is a clear gap to meet this growing demand. We are excited to partner with Elivaas in their quest to reshape the vacation rental landscape in the country,” said Nitya Agarwal, Vice President, Investments at 3one4 Capital.
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