Peak XV’s Surge leads $2.5 Mn seed round in Elivaas

Elivaas, a tech-driven villa and luxury apartment management company, has raised $2.5 million in its seed round led by Peak XV Partners’ Surge. The angels in the round include Naveen Kukreja, Kunal Shah, Mohit Gupta, Amit Lakhotia, Ravi Singhvi, Anant Apurv Kumar, Parag Aggarwal and Toranj Mehta among others

The proceeds will be used to establish a larger market presence across high-footfall cities in India and ramp up its technology platform, Elivaas said in a press release. 

Founded by Ritwik Khare, Elivaas helps owners monetize, monitor and maintain their vacation homes. The startup claims to be a platform to deliver a 7 star experience for its partners and guests.

Since its inception in January 2023, the Gurugram-based startup claims to have signed on more than 50 properties across Goa, Udaipur, Delhi NCR, and Kufri, and has maintained more than half occupancy in their rental homes across seasons. 

Elivaas competes with StayVista which raised Rs 40 crore ($5 million) led by DSG Consumer Partners in September last year.

Last month, Peak XV Partners’ rapid scale-up program Surge launched its ninth cohort of early-stage startups featuring 32 founders across 13 startups. Elivaas is a part of the program.