Information on the Target

ELIVAAS is a prominent luxury vacation rental platform in India, founded in 2023 by industry veterans Ritwik Khare and Karan Miglani. The company focuses on offering high-end villa and apartment rentals, curating exceptional vacation experiences across the country’s most sought-after destinations. ELIVAAS is committed to personalizing travel experiences to cater to the unique preferences of its guests, ensuring that every detail enhances the comfort, privacy, and exclusivity sought by luxury travelers.

The company has established a significant presence in 30 Indian destinations and has achieved remarkable growth, reporting a 5X year-on-year increase in revenue during FY 2024-25. With its tech-driven platform, ELIVAAS aims to transform the way second home ownership and luxury travel intersect, providing value to both travelers and property owners alike.

Industry Overview in India

The luxury vacation rental sector in India has experienced substantial growth, driven by rising affluence among consumers and an increased emphasis on experiential travel. With more Indians seeking unique and high-quality vacation experiences, platforms like ELIVAAS are well-positioned to cater to this demand. Specifically, the concept of second homes has gained traction, as individuals leverage properties for both personal enjoyment and rental income.

The Indian hospitality landscape is evolving, with travelers increasingly preferring alternative accommodations over traditional hotels. This shift is further fueled by the growing popularity of online booking platforms that facilitate easier access to luxury rentals. ELIVAAS taps into this market by offering exceptional service and a curated selection of properties, enhancing the overall travel experience.

Moreover, the COVID-19 pandemic has shifted consumer preferences towards privacy and safety, making luxury vacation rentals an attractive option. As remote work becomes more common, individuals are inclined to take extended vacations in luxury settings, further expanding the market landscape for vacation rentals.

Major investors and stakeholders are closely observing the potential for growth in this sector, indicating robust competition and innovation as companies strive to attract discerning travelers. The combination of technological advancements and an increasing pool of affluent travelers promises a vibrant future for the luxury vacation rental industry in India.

The Rationale Behind the Deal

ELIVAAS's recent Series B funding round, which raised INR 87 Crores (approx. USD 10.4 million) led by Vertex Ventures Southeast Asia & India, articulates a clear strategy for market expansion and brand visibility. This financial backing will enable ELIVAAS to deepen its market penetration within India’s thriving luxury travel sector while establishing a foothold in international markets.

The funding will be utilized to invest in advanced technology aimed at enhancing operational performance and enriching the customer experience. By adopting a technology-first approach, ELIVAAS seeks to assert itself as a leader within a competitive market, ensuring consistent service quality and seamless experiences for its clientele.

Information about the Investor

Vertex Ventures Southeast Asia & India is a distinguished venture capital firm specializing in early-stage investments in high-growth startups across Southeast Asia and India. Their investment strategy focuses on identifying innovative companies capable of disrupting traditional industries and driving technological advancement.

Having backed various successful startups like Grab, FirstCry, and Nium, Vertex Ventures has garnered a reputation for its strategic insights and extensive network, which supports portfolio companies in scaling operations and achieving market success. The firm’s partnership with ELIVAAS is a testament to their confidence in the company's potential to capitalize on the burgeoning luxury travel market in India.

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The alliance between ELIVAAS and Vertex Ventures is poised to be a strong investment opportunity that aligns with current market trends advocating for premium travel experiences. ELIVAAS’s innovative approach, characterized by a tech-enabled platform and a passion for customer service, positions it favorably in a growing sector that is increasingly shifting toward alternative accommodation options.

The luxury vacation rental market is witnessing accelerated growth, and the investment will empower ELIVAAS to harness this momentum effectively. With a proven record of rapid revenue growth and substantial backing from reputable investors, the company demonstrates a solid foundation that could yield significant returns in the upcoming years.

Moreover, the commitment to technological enhancement and customer-centric solutions means that ELIVAAS is not only addressing current consumer needs but also future-proofing itself against competitive threats. These attributes suggest a promising outlook for the company and its stakeholders.

Overall, this funding round marks a critical point in ELIVAAS’s trajectory, with substantial growth potential that could affirm its status as a leader in the luxury travel segment within India and beyond.

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