ELIVAAS Secures INR 87 Crores in Series B Funding Led by Vertex Ventures
Deal News | Aug 12, 2025 | Vertex Venture Management Pte
ELIVAAS, a prominent luxury vacation rental platform, has raised INR 87 Crores (approximately USD 10.4 Million) in its Series B funding round, spearheaded by Vertex Ventures Southeast Asia & India. Existing investors, Peak XV Partners Surge and 3one4 Capital, also contributed to the round. With this latest injection of capital, ELIVAAS aims to bolster its market presence in India's high-potential leisure and business destinations. Additionally, the company plans to expand its international footprint and invest in technology to enhance operational performance and customer experience. Founded by Ritwik Khare and Karan Miglani in 2023, ELIVAAS has been capturing the luxury travel market with its technology-enabled platform and emphasis on customer satisfaction. Over the past two years, the company has demonstrated significant growth, marking a 5X year-on-year revenue increase in FY 24-25. Vertex Ventures sees a significant opportunity in leveraging second homes for premium travel experiences in India, with ELIVAAS positioned to capitalize on this trend. This funding round marks a strategic milestone for ELIVAAS, setting the stage for sustainable scaling and solidifying its reputation in the luxury travel sector.
Sectors
- Hospitality
- Venture Capital
Geography
- India – ELIVAAS primarily operates in India, focusing on expanding its market in high-potential leisure and business travel destinations.
- Southeast Asia – Vertex Ventures Southeast Asia & India's role in funding aligns with the venture capital firm's focus on supporting startups across this region.
Industry
- Hospitality – ELIVAAS operates within the hospitality sector, focusing on luxury vacation rentals and curating personalized travel experiences.
- Venture Capital – The involvement of Vertex Ventures Southeast Asia & India in funding indicates the intersecting role of venture capital in supporting high-growth startup companies.
Financials
- INR 87 Crores – The amount raised by ELIVAAS in its Series B funding round.
- USD 10.4 Million – Approximate value of the Series B funding in US dollars, equating to INR 87 Crores.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ELIVAAS | The Target company | Company | A leading luxury vacation rental platform focusing on short-term rentals in India and international expansion. |
| Vertex Ventures Southeast Asia & India | Lead Investor | Company | An early-stage venture capital firm with investments across Southeast Asia and India in various high-growth sectors. |
| Peak XV Partners Surge | Existing Investor | Company | A venture capital firm participating in the Series B funding round. |
| 3one4 Capital | Existing Investor | Company | A venture capital firm that has been an early supporter of ELIVAAS, also participated in the Series B round. |
| Ritwik Khare | Founder and CEO | Person | Co-founder of ELIVAAS, leading the company in its growth phase and expansion plans. |
| Karan Miglani | Co-founder | Person | Co-founder of ELIVAAS, involved in scaling and strategic development. |