ELIVAAS Secures Rs 87 Crore in Series B Funding for Luxury Vacation Rentals

ELIVAAS, a platform dedicated to luxury vacation rentals, has successfully raised Rs 87 crore (around $10 million) in its Series B funding round. This funding was led by Vertex Ventures Southeast Asia & India, with additional contributions from existing investors Peak XV Partners’ Surge and 3one4 Capital. The news of this funding development was exclusively reported by Startup Superb in April this year.

Previous Funding and Growth

Earlier in April 2024, ELIVAAS raised $5 million in Series A funding, also led by 3one4 Capital, along with participation from Peak XV Partners’ Surge and various angel investors. The new capital will be directed towards expanding its footprint in India, preparing for entry into international markets, and investing in technology to enhance its operational scalability.

Valuation Insights

Reports suggest that ELIVAAS’s valuation may have exceeded Rs 500 crore. Founded in 2023 by Ritwik Khare and Karan Miglani, the company focuses on managing luxury villas and apartments available for short-term rentals. Its platform benefits homeowners by monetising and maintaining their properties while providing travellers access to high-end holiday accommodations.

Current Operations and Financial Overview

Currently, ELIVAAS operates in 30 different destinations throughout India and reported a remarkable five-fold year-on-year revenue growth for FY25. While the company has yet to disclose specific figures for FY25, it recorded revenues of Rs 7 crore and a loss of Rs 10.4 crore for the fiscal year ending in March 2024. This information was sourced from various startup data intelligence platforms.

About Vertex Ventures Southeast Asia & India

Vertex Ventures Southeast Asia & India is a venture capital firm that focuses on early-stage investments in startups across the regions of Southeast Asia and India. The firm has a history of supporting companies in diverse sectors, including notable investments in Grab, FirstCry, Nium, Licious, Kuku FM, and PatSnap.