Elivaas is a luxury villa-rental platform that has raised INR 870 Million ($10 million) as part of its Series B financing round. The funding was led by Vertex Ventures Southeast Asia & India, and existing investors Peak XV Partners’ Surge and 3one4 Capital also participated in the round. This funding comes nearly one year after Elivaas’ $5 million raised in September of last year.
Elivaas said it would like to expand its market reach with the money raised in its latest round of funding. It wants to expand its reach in India’s high-potential business and leisure travel destinations.
“We see a rapidly growing opportunity to leverage the second homes supply in India to provide premium experiences via alternative accommodation. Elivaas is best suited to capture this market,” said Nikhil Marwaha, partner at Vertex Ventures Southeast Asia & India.
Elivaas also has ambitions beyond India. It aims to expand internationally.
