Elivaas
Overview
Elivaas is an emerging luxury vacation rental company that specializes in managing villas and luxury apartments for short-term rentals. Founded in 2023 by Ritwik Khare and Karan Miglani, the company is based in Gurugram, India. As of 2025, Elivaas has raised a total of $18.5 million over multiple funding rounds, with its most significant round being a Series B completed on August 12, 2025, raising $10.4 million led by Vertex Ventures.
Recent Developments
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August 2025: Elivaas secured $10.4 million in a Series B funding round led by Vertex Ventures Southeast Asia and India. This funding is intended to enhance market penetration within India, support international expansion, and bolster brand visibility. The company plans to utilize this capital to invest in technology aimed at improving operational efficiency and customer experience. Source
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April 2025: There was a significant increase in Elivaas' property portfolio as they expanded to over 500 properties, a milestone expected to be reached by the second quarter. They also focused on sustainability with ventures like the solar-powered eco-resort in Banaras. Source
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September 2024: Elivaas raised $5 million in their Series A funding round led by 3one4 Capital. This funding was designated for enhancing their technology platform, expanding market presence, and elevating homeowner and guest experiences. Source
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April 2024: The company extended its operations significantly across major Indian tourist destinations, marking growth in tourist accommodations in areas like Goa, Himachal Pradesh, and Uttarakhand.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2023 |
| Headquarters | Gurugram, Haryana, India |
| Founders | Ritwik Khare, Karan Miglani |
| Revenue | ₹7.97 crore for FY 2023-24 |
| Profits | -₹10.43 crore for FY 2023-24 |
| Key Investors | Vertex Ventures, 3one4 Capital, Peak XV Surge |
| Industry | Hospitality, Luxury Rentals |
| Number of Employees | 289 (as of May 2025) |
Early History
Elivaas was born out of Ritwik Khare and Karan Miglani's vision to disrupt the luxury vacation rental industry in India by integrating technology with traditional hospitality. Launched in 2023, the company initially focused on popular tourist destinations within India, providing premium accommodation options with a tech-driven management approach. The company quickly attracted interest from investors, leading to multiple funding rounds that enabled it to expand its operations and tech offerings significantly.
Company Profile and Achievements
Elivaas operates on a tech-driven model, providing full management services for luxury villas and apartments, targeted heavily at second-home owners and luxury travelers. Notable developments include:
- Launch of premium brands Elivaas Privé and Alaya Stays, offering ultra-luxury and lean-luxury villas respectively.
- Implementation of AI-powered concierge services and automated solutions like housekeeping to enhance guest experience.
- Collaborative partnerships with Guiding Souls Trust to support underprivileged women in India.
The company prides itself on delivering culturally connected experiences that blend world-class luxury with local heritage. Over the past two years, Elivaas claims to have served over 150,000 guests and is focusing on expanding into markets in the UAE, Sri Lanka, and Southeast Asia.
Current Operations and Market Position
Currently, Elivaas operates across 30 locations in India with a substantial presence in Goa, Himachal Pradesh, and Maharashtra. The company is recognized for its unique ability to provide personalized luxury experiences using its proprietary technology platform. Elivaas holds a competitive edge through its omni-channel service model, which caters to personalized and business use cases. With a growing presence in high-demand leisure destinations, it plans significant expansions to new international markets by the end of 2025.
Conclusion
Elivaas has established itself as a formidable player in India's luxury vacation rental market by combining hospitality with technological innovation. Its strategic expansions and focus on curated, customer-centric experiences have positioned it for international growth. With continued investment in technology and sustainable practices, Elivaas is expected to reinforce its market presence, potentially emerging as a leading global player in the luxury travel and accommodation industry.