ELIVAAS, the luxury vacation home rental platform, is in talks to raise a fresh INR 100 crore (~USD 12 million) in new funding. That could value the two-year-old startup at around INR 500 crore—quite a leap from its previous fundraise just six months ago.
Industry veterans Ritwik Khare and Karan Miglani founded ELIVAAS in 2023. Since then, the platform has built a reputation for offering premium villas and apartments across India’s top travel destinations. Goa, Udaipur, Shimla and Rishikesh are among those. ELIVAAS wants to redefine luxury hospitality by delivering immersive, culturally connected experiences. That’s through a technology-driven and eco-conscious model.
Sources close to the company (who asked to remain anonymous since the discussions are private) say ELIVAAS is currently negotiating deal terms with both new and existing investors. A new lead investor is likely to spearhead the round. However, insiders warn that the final contours of the transaction could still change.
Ritwik Khare, President & CEO of ELIVAAS, has a clear vision for the company: “Our goal is to curate extraordinary getaways that go beyond conventional hospitality.” ELIVAAS wants to offer not just stays, but deeply curated experiences that blend local culture with world-class comfort. Khare emphasizes that technology alone isn’t enough. “True innovation lies in blending digital convenience with human insight.”
ELIVAAS is using an intelligent tech stack to craft those frictionless, high-end guest experiences. That includes AI-powered concierge services and automated housekeeping systems. Personalization is key to the company’s focus on sustainability and the growing global demand for authentic, meaningful and responsible luxury travel.
With over 400 properties across six Indian states—Goa, Himachal Pradesh and Uttarakhand among them—ELIVAAS has expanded aggressively since its inception. By Q2 2025, it expects to cross the milestone of 500 properties. And it’s set to scale beyond 1,000 properties soon after. Upcoming launches in Bangalore, Kerala and other parts of South India will consolidate its presence domestically. International expansion is firmly on the cards too, with the company targeting key global markets by the end of 2025.
In parallel, ELIVAAS is investing heavily in eco-tourism. The brand’s upcoming solar-powered eco-resort in Banaras is a testament to its commitment to innovation.
Through partnerships with local communities, sourcing organic materials and energy-efficient tech, ELIVAAS is setting a new standard for luxury.
Funding So Far
ELIVAAS has raised USD 7.5 million (~INR 64.02 crore) so far. Its USD 2.5 million (~INR 21.34 crore) seed round was led by Peak XV’s Surge program with marquee angel investors like Kunal Shah (Cred), Mohit Gupta (ex-MakeMyTrip), Amit Lakhotia (Park+), and Naveen Kukreja (Paisabazaar).
In late 2024, the company raised USD 5 million (~INR 42.68 crore) Series A led by 3one4 Capital with continued backing from Peak XV. The upcoming INR 100 crore fundraise, if successful, will take ELIVAAS into high-growth scale-up mode for global play.
The Future
With tech, sustainability and bespoke service, ELIVAAS is at the forefront of the experiential luxury wave redefining global hospitality. Khare sums it up: “Our mission is not just about expanding footprints but about creating destinations that inspire and connect. As we prepare for our global foray, our commitment to transparency, innovation and impact remains unwavering.”
The next few months will be critical. If the fundraise succeeds and the company continues to grow, ELIVAAS could be one of the most exciting luxury travel tech players to watch – not just in India but globally. For more details related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.