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

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

In a significant development for the luxury property management sector, Elivaas has successfully secured $2.5 million in its seed funding round led by Peak XV Partners’ Surge. The investment round also saw participation from prominent angels, including Naveen Kukreja, Kunal Shah, Mohit Gupta, and others.

Elivaas, founded by Ritwik Khare, specializes in the tech-driven management of villas and luxury apartments, offering a comprehensive solution for owners to monetize, monitor, and maintain their vacation homes. The startup, established in January 2023, has already made substantial strides by signing over 50 properties in popular destinations such as Goa, Udaipur, Delhi NCR, and Kufri.

The raised capital will be strategically utilized by Elivaas to expand its market presence in high-footfall cities across India and enhance its technology platform. The company aims to deliver a luxurious 7-star experience for both property owners and guests.

Elivaas faces competition from StayVista, which secured a $5 million investment led by DSG Consumer Partners in September last year. The seed funding comes as part of Peak XV Partners’ Surge rapid scale-up program, with Elivaas being a noteworthy participant in the program’s ninth cohort of early-stage startups.