ELIVAAS, a luxury apartment management startup that helps owners monetise, monitor and maintain their vacation rental homes plans to utilise the fresh funds to strengthen its tech stack, expand its market reach and scale operations

Mansvini Kaushik September 23, 2024
Image: Elivaas

In a significant move for the Indian hospitality landscape, Delhi based luxury vacation rental startup ELIVAAS has raised $5 million in a Series A funding round led by 3one4 Capital, along with contributions from other investors including Blume Ventures and Akatsuki Entertainment. This latest capital infusion aims to redefine the vacation rental experience in India, offering discerning travelers a blend of luxury and personalized service.

Innovative Approach to Luxury Travel

Founded in 2023 by Ritwik Khare and Karan Miglani, the management platform focuses on providing a curated selection of high-end properties across key tourist destinations in India, including Goa, Jaipur, and the Himalayan region. With a total funding of $8 million, the startup has 180 employees and distinguishes itself by combining luxury accommodations with tailored experiences, and also runs an online booking site and features an AI-based chatbot for customer service. 

With travel demand among India’s wealthy on the rise—89% of high-net-worth individuals (HNWIs) intending to boost their travel expenditures—ELIVAAS and its sister brand, Alaya Stays, are well-positioned to spearhead the evolution of the country’s luxury vacation rental market.

Current Portfolio and Expansion Plans

Currently, Elivaas manages over 140 properties across Delhi, Goa, Rajasthan, with plans to significantly increase this number in the coming months. The newly secured funds will support the expansion of its portfolio and enhance its technology infrastructure, including the development of a user-friendly platform that simplifies the booking process. This platform will feature virtual tours, tailored recommendations, and seamless customer support.

Khare, emphasized the company’s commitment to setting a new standard in the luxury vacation rental industry and 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.”

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  • Mansvini Kaushik

    Mansvini Kaushik is the founder of Candle Magazine, a premier platform dedicated to exploring the evolving landscape of luxury and culture in India. With a background in journalism at Forbes India, Mansvini has cultivated deep expertise in storytelling and luxury branding. Her passion for uncovering the nuances of business, lifestyle, and cultural trends has shaped her vision for Candle Magazine. Mansvini’s work reflects her commitment to showcasing the best of Indian luxury and bringing fresh, insightful perspectives to the global stage.

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