Hospitality startup Elivaas raises $5 million from 3one4 Capital, others

Elivaas, a tech-driven villa and luxury apartment management company, has raised $5 million in a Series A funding round led by 3one4 Capital, with participation from Peak XV’s Surge and other angel investors.

The funds will be used to scale the company’s proprietary technology platform, expand its market presence, and optimise operations, Elivaas said on Friday.

“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,” said Ritwik Khare, founder and CEO of Elivaas.


Cofounded by Khare and Karan Miglani, Gurugram-based Elivaas offers a management platform for villas and luxury apartments, helping homeowners monetise, monitor and maintain their properties. The startup also runs an online booking site and features an AI-based chatbot for customer service.

While Elivaas specialises in luxury villas, its sister brand Alaya Stays focuses on premium apartments and villas.

Over the past year, Elivaas has grown to more than 140 properties across prime Indian destinations, including Goa, Delhi NCR, Rajasthan, Maharashtra, Himachal Pradesh, and Uttarakhand.

In November 2023, it raised $2.5 million in a seed round led by Surge, Peak XV Partners’ scale-up programme for early-stage startups.

“With India poised to become one of the largest domestic tourism markets, there’s a clear gap to meet this growing demand. We’re excited to partner with Elivaas as they look to reshape the vacation rental landscape in the country,” said Nitya Agarwal, vice president of Investments at 3one4 Capital.