Vacation Rental Platform Elivaas Raises $10 Million to Fuel India and Global Expansion

Luxury villa rental platform Elivaas has raised INR 870 million ($10 million) in its Series B funding 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 a year after Elivaas raised $5 million last September.

With the money from its latest funding round in hand, Elivaas is looking to deepen its market penetration, the company said in a statement. It is looking to double down on its presence in high-potential leisure and business travel destinations across India.

“We see a fast growing opportunity to leverage second homes supply to provide premium travel experiences in India via alternate accommodation. Elivaas is best suited to capture this market,” said Nikhil Marwaha, partner at Vertex Ventures Southeast Asia & India.

Elivaas is also not limiting its ambitions to India and aims to expan