Vacation Home Rentals Startup ELIVAAS Secures $5 Million in Series A Funding 

Delhi – NCR / September 20, 2024: ELIVAAS, a tech-driven luxury villas and apartment management startup has raised $5 million in Series-A round led by 3one4 Capital, with participation from Peak XV’s Surge and other angel investors. The raised funds will be directed towards enhancing ELIVAAS’s proprietary technology platform, expanding market presence, optimising operations, and elevating the overall experience for homeowners and guests. Founded by seasoned veterans Ritwik Khare (formerly in leadership roles at  LEAD School, MakeMyTrip, CITIBANK) and Karan Miglani (formerly in leadership role at TripAdvisor, Expedia & MakeMyTrip), the startup aims to revolutionise vacation home rentals, the statement said.

As the demand for luxury travel experiences continues to grow, ELIVAAS and Alaya Stays have emerged as prominent players in the Indian hospitality market. These sister brands, part of Ishanee Villas Tech Pvt Ltd, offer a curated collection of private villas and apartments across the country, the statement added. 

Ritwik Khare, Founder & CEO of ELIVAAS, said, “The luxury vacation rental market in India is primed for disruption, and we’re committed to leading that charge. Backed by 3one4 Capital, Peak XV’s Surge, and strong angels, we aim to drive the future of this space with a vision rooted in quality, technology, and unparalleled guest experiences. Our aim is clear: to grow our portfolio while continuously exceeding expectations, setting the benchmark for the luxury vacation rental experience.”

Karan Miglani, Co-Founder of ELIVAAS, added, “Partnering with 3one4 Capital, Peak XV’s Surge, and our esteemed angels marks a significant milestone for us. This funding will fuel our efforts to scale operations, refine our platform, along with other technological investments across customer offerings, merchandising, Homeowner app, & internal operations app, enabling us to deliver exceptional experiences for both homeowners and guests. We aim to penetrate India’s leisure destinations and establish ourselves deeper, as the most trustworthy and recognisable brand in the luxury vacation rental space.”

Nitya Agarwal, VP, Investments, 3one4 Capital, “As India gears up to become one of the biggest domestic tourism markets , there is a gap in the market to cater to this ever-growing demand. We are excited to partner with Elivaas as they set out to revolutionise the future of vacation rentals in the country. With a razor sharp focus on  experiential living, we feel Elivaas is poised to emerge as a winner in this category.”