ELIVAAS Secures $5M to Redefine Luxury Vacation Rentals in India

ELIVAAS has secured $5 million in Series A funding led by 3one4 Capital, with participation from Peak XV’s Surge and other prominent angel investors. The fresh capital will fuel ELIVAAS’s expansion plans, technology enhancements, and efforts to streamline operations. At its core, ELIVAAS is on a mission to redefine the vacation home rental experience in India, providing unmatched service quality for homeowners and travelers.

The company, founded by industry veterans Ritwik Khare (formerly of LEAD School, MakeMyTrip, and Citibank) and Karan Miglani (who previously held leadership roles at TripAdvisor, Expedia, and MakeMyTrip), combines cutting-edge technology with five-star hospitality. With the new funding, ELIVAAS aims to boost its proprietary tech platform, elevate its customer experience, and extend its footprint across India’s luxury vacation market.

As travel demand among India’s affluent continues to surge—89% of high-net-worth individuals (HNWIs) plan to increase travel spending—ELIVAAS and its sister brand Alaya Stays are uniquely positioned to lead the transformation of the country’s high-end vacation rental sector. The two brands now manage over 140 properties across prime destinations such as Goa, Delhi NCR, Rajasthan, Maharashtra, Himachal Pradesh, and Uttarakhand. ELIVAAS focuses on luxury villas, while Alaya Stays caters to premium apartments and villas.

Blending Technology with Luxury Hospitality

The Indian luxury vacation rental market is still evolving, offering ample opportunities for companies like ELIVAAS to standardize service quality. The company’s approach integrates five-star hospitality with smart technology, creating a seamless experience for homeowners and guests. Homeowners benefit from real-time insights into bookings, reviews, and maintenance through the Homeowner app. In contrast, the HK app simplifies property management by automating check-in protocols and standard operating procedures. On the guest side, ELIVAAS offers advanced features like immersive 3D property tours, AI-driven chatbots, and convenient payment options, ensuring a hassle-free booking experience.

Ritwik Khare, Co-Founder and CEO of ELIVAAS, 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.”

Aiming for Scale and Impact

Co-Founder Karan Miglani echoed Khare’s vision, emphasizing the strategic importance of this funding round, and 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 and 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 of Investments at 3one4 Capital, expressed confidence in ELIVAAS’s ability to tap into India’s growing domestic tourism market. “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.” said Agarwal.

Commitment to Excellence and Sustainability

To ensure consistency across its properties, ELIVAAS follows a rigorous 50-point checklist and comprehensive standard operating procedures. The company prioritizes best-in-class services, including five-star hospitality, advanced housekeeping management, eco-friendly practices, and personalized guest experiences.

As India’s travel sector continues to expand, ELIVAAS is poised to carve out a dominant position in the luxury vacation rental market, combining technology, hospitality, and sustainability to offer a new standard of excellence for discerning travelers.

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