Luxury vacation rental startup Elivaas has secured $10.4 million (₹87 crore) in Series B funding to scale its premium villa and apartment rental offerings in India and global markets. The round was led by Vertex Ventures Southeast Asia & India, with participation from existing backers Peak XV Partners’ Surge and 3one4 Capital.
With this latest round, Elivaas’ total funding now stands at $18.4 million, including its $3 million Seed and Angel investments and a $5 million raise in 2024.
Founded by Ritwik Khare and Karan Miglani, Elivaas specializes in luxury villa, apartment, and second-home rentals, catering to high-end leisure and business travelers. The fresh capital will be used to expand the company’s property portfolio across India and select global destinations, while also enhancing the platform’s technology infrastructure for a seamless booking experience.
A Booming Market Opportunity
The founders highlight that the post-pandemic travel landscape has fueled an unprecedented surge in demand for premium alternate accommodations. In India, the supply of luxury second homes — including villas and apartments — has grown 25–30% annually, far outpacing the 3–4% yearly growth in hotels. This shift is driven by travelers seeking privacy, exclusivity, and personalized hospitality.
Investor Confidence in the Model
Nikhil Marwaha, Partner at Vertex Ventures Southeast Asia & India, emphasized the growth potential: “We see a fast-growing opportunity to leverage second homes supply to provide premium travel experiences in India via alternate accommodation.”
With a clear growth trajectory, Elivaas aims to become a leading global player in the luxury rentals segment, competing with global giants while building an India-first hospitality brand for discerning travelers.
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