Funding Alert

Elivaas Secures $2.5 Million in Seed Funding Led by Peak XV Partners’ Surge

• ByStartupStory     |    November 27, 2023

Tech-driven villa and luxury apartment management company Elivaas has successfully raised $2.5 million in its seed funding round, with leading participation from Peak XV Partners’ Surge. Notable angel investors contributing to the round include Naveen Kukreja, Kunal Shah, Mohit Gupta, Amit Lakhotia, Ravi Singhvi, Anant Apurv Kumar, Parag Aggarwal, Toranj Mehta, and others.

The freshly secured funds are earmarked for expanding Elivaas’ market presence across high-footfall cities in India and further enhancing its technology platform, according to a press release from the company.

Founded by Ritwik Khare, Elivaas specializes in helping property owners maximize the potential of their vacation homes through comprehensive management services. The startup positions itself as a platform dedicated to delivering a 7-star experience for both partners and guests.

Since its establishment in January 2023, the Gurugram-based startup claims to have successfully onboarded over 50 properties spanning popular destinations such as Goa, Udaipur, Delhi NCR, and Kufri. Impressively, Elivaas boasts maintaining over half occupancy in their rental homes throughout different seasons.

The competition in this space includes StayVista, which secured Rs 40 crore ($5 million) in funding led by DSG Consumer Partners in September of the previous year.

Elivaas’ strategic plans align with utilizing the recently acquired funding to solidify its presence in key cities with high demand and to bolster its technological infrastructure, ensuring a seamless experience for property owners and guests alike.

Notably, Elivaas is part of Peak XV Partners’ Surge rapid scale-up program, which recently launched its ninth cohort featuring 32 founders across 13 startups. As Elivaas continues its journey, the injection of $2.5 million in seed funding positions the company for substantial growth in the luxury property management segment, underscoring the investor confidence in its innovative approach and market potential.

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