In a recent funding milestone, Elivaas, a cutting-edge villa and luxury apartment management company, has successfully raised $2.5 million in its seed round. This funding was spearheaded by Peak XV Partners’ Surge, with participation from prominent angels such as Naveen Kukreja, Kunal Shah, Mohit Gupta, Amit Lakhotia, Ravi Singhvi, Anant Apurv Kumar, Parag Aggarwal, and Toranj Mehta, among others.
The freshly acquired funds are earmarked to fuel Elivaas’ strategic plans for establishing a more substantial market presence across high-footfall cities in India. The startup aims to enhance and expand its technology platform, as detailed in a recent press release.
Founded by Ritwik Khare, Elivaas distinguishes itself by offering comprehensive solutions for property owners to monetize, monitor, and maintain their vacation homes effectively. The company positions itself as a platform committed to delivering a stellar 7-star experience for both partners and guests.
Since its inception in January 2023, the Gurugram-based startup has made significant strides, boasting partnerships with more than 50 properties in sought-after destinations such as Goa, Udaipur, Delhi NCR, and Kufri. Impressively, Elivaas has maintained over half of the occupancy rates in their rental homes throughout various seasons.
Elivaas faces competition from StayVista, which secured Rs 40 crore ($5 million) in funding led by DSG Consumer Partners in the preceding September. The funding round demonstrates investor confidence in Elivaas’ innovative approach to luxury property management.
The company’s inclusion in Peak XV Partners’ rapid scale-up program, Surge, adds another layer of validation to Elivaas’ potential. The program recently unveiled its ninth cohort of early-stage startups, featuring 32 founders across 13 dynamic ventures, with Elivaas positioned as a noteworthy participant.
As Elivaas charts its course for expansion and technological augmentation, the recent seed funding is poised to play a pivotal role in propelling the company to new heights within the competitive landscape of luxury property management.
