Gurugram-based luxury accommodation management platform ELIVAAS has raised ₹87 crore in a Series B funding round led by Vertex Ventures Southeast Asia and India. Existing investors, including Peak XV Partners’ Surge accelerator and 3one4 Capital, also took part in the round.
The company plans to use the capital to strengthen its presence in India, expand to international markets, and enhance brand visibility. Upcoming target destinations include the UAE, Sri Lanka, Bangkok, and Bali, with future plans for broader Southeast Asia coverage.
Founded in 2023 by Ritwik Khare and Karan Miglani, ELIVAAS operates a technology-driven platform that manages villas and luxury apartments for second-home owners. The service helps property owners generate income, manage operations, and maintain their assets. Since its inception, the company has hosted approximately 1,50,000 guests.
ELIVAAS serves both leisure and corporate segments, with personal stays contributing about 65–70% of its revenue. The newer business travel segment accounts for the remaining 30%.
Nikhil Marwaha, Partner at Vertex Ventures Southeast Asia and India, noted that ELIVAAS is well-positioned to address the growing demand for premium alternate accommodation in India. He cited the company’s technology platform and focus on customer experience as key strengths.
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By Ravi Kumar