Business venture Elivaas secures INR 87 Crore in Series B funding; intends to amplify presence in bustling leisure and corporate travel locations nationwide in India
Elivaas, a luxury vacation rental platform, has announced its recent Series B funding round, raising INR 87 crore (approximately USD 10.4 million). The round was led by Vertex Ventures Southeast Asia & India, with participation from existing investors Peak XV Partners' Surge and 3one4 Capital.
Founded in 2023 by Ritwik Khare and Karan Miglani, Elivaas has been making strides in the Indian market, expanding operations to 30 destinations over the past two years. The company's latest funding will be used to deepen its presence in high-potential leisure and business travel destinations within India, while simultaneously preparing for international expansion.
Nikhil Marwaha, Partner at Vertex Ventures Southeast Asia & India, expressed his optimism about Elivaas' growth potential in the Indian market. "We see a fast-growing opportunity for Elivaas in this space," he said.
Elivaas' growth strategy is multi-faceted. It includes market penetration in India, focusing on luxury leisure and business travel locations and capitalising on second home ownership and upscale travel trends. The company also plans to leverage its new capital to lay the groundwork for global footprint expansion, aiming to strengthen its brand visibility in international markets beyond India.
Technology investment is another key element of Elivaas' strategy. The company plans to significantly invest in cutting-edge technology to enhance operational efficiency, improve the customer journey, and scale high-quality, seamless travel experiences. This tech focus underpins their differentiated luxury service offering and supports sustainable scaling.
Ritwik Khare, Founder and CEO of Elivaas, expressed his appreciation for the trust placed in the company by its investors. "We are grateful for the continued support from our investors," he said. "This funding will enable us to further our mission of providing exceptional luxury travel experiences to our customers."
Elivaas manages luxury villas and premium vacation properties, offering a curated selection of properties for discerning travellers. The company's focus on service excellence and its commitment to sustainable growth have earned it a reputation as a trusted and leading player in the luxury vacation rental ecosystem, both domestically and internationally.
With this latest funding round, Elivaas is poised to continue its aggressive growth strategy, capturing the rising demand in luxury vacation rentals in India and abroad. The company's focus on geographical expansion, brand strengthening, and technology-led service excellence is expected to drive its success in the coming years.
- Elivaas, recently equipped with INR 87 crore from its Series B funding round, is set to boost its presence in high-potential leisure and business travel destinations within India, with plans for international expansion.
- Vertex Ventures Southeast Asia & India, the round's lead investor, sees a significant growth potential for Elivaas in the Indian market.
- To expand its global footprint, Elivaas intends to leverage its newly acquired funds to invest heavily in technology, aiming to provide travelers with high-quality, seamless experiences through operational efficiency and cutting-edge technology.
- As a result of its market penetration, service excellence, and commitment to sustainable growth, Elivaas has earned a leading reputation in the luxury vacation rental ecosystem, both domestically and internationally.
- The travel and lifestyle sector might witness further strides as Elivaas' growth strategy continues to capture the rising demand in luxury vacation rentals in India and abroad.
