Source: The Economic Times
Digital real estate startup Alt DRX has raised fresh funds in a ₹23 crore (approximately $2.7 million) round, sponsored by various institutional and angel investors. The round was led by Qatar Development Bank, WeFounder Circle Angel Fund, and nX Capital while other prominent individual investors were cricket commentator Harsha Bhogle, Mindtree founder Parthasarathy, and former KPMG India CEO Richard Rekhy.
About Alt DRX
Alt DRX was established by Anand Narayanan, an ex-Managing Director of Damac Properties, to provide fractional ownership of residential properties via tokenized real estate through blockchain technology. The startup allows users to buy and sell residential properties in minimum units of one square foot supported by algorithmic daily pricing, instant settlements, and KYC whitelisted custodial ledgers on XRPL built on Ripple’s blockchain infrastructure.
Vision for a Digital-First Investor Generation
“We believe the next 100 million real estate investors will be digital-first and will invest dispassionately beyond their hometowns into the best residential cities across India and the world,” said Anand Narayanan, founder of Alt DRX.
“Residential Real estate is entering its most profound disruption in decades: Tokenised Digital Real Estate—liquid, transparent and tradeable. Alt DRX is not just innovating at the edges; we are reimagining the core of residential real estate investment for a digital-first generation,” added Narayanan.
Strategic Utilization of Fresh Capital
The funds raised will be deployed for customer acquisition, technology enhancements, corporate operations, and growth acceleration by Alt DRX. With its headquarters in Bengaluru, the platform purportedly rejoices in an upwardly mobile transaction volume of about 100,000 transactions each year.
Regulatory and Global Growth Backing
The company is part and parcel of the International Financial Services Centre Authority’s (IFSCA) Innovation Sandbox at GIFT City, Gujarat; it thereby has growth opportunities related to digital assets. Furthermore, it has been enlisted into the QFC Digital Assets Lab, thus providing a further push to its global brick in the digital asset field.
Positioning for a Multi-Trillion Dollar Market
According to the recently released report by Boston Consulting Group and Ripple, the RWA Tokenization market is set to hit $18 trillion by the year 2033. Real estate, and Alternate Investment Funds (PE / VC / Hedge) being among the top three asset classes to be tokenized into tradeable digital assets.
Alt DRX seeks to seize this trend by offering transparent, accessible, and tradeable real estate investment experiences, thus making property ownership feasible for a completely new generation of investors.
