Alt DRX, a Bengaluru-based startup working on tokenised digital real estate, raises Rs 23 crore

Based on the provided information, here’s a structured summary:

Alt DRX Funding Details

• Startup: Alt DRX
• Founders: Anand Narayanan
• Funding Amount: Rs 23 crore ($2.7 million)
• Funding Series: Not specified
• Date of Fundraise: Not specified
• Investors:
  • Institutional Investors:
  • Qatar Development Bank
  • WeFounder Circle Angel Fund
  • nX Capital
  • Angel Investors:
  • Harsha Bhogle (Cricket Commentator)
  • Parthasarathy (Mindtree Co-founder)
  • Richard Rekhy (Former KPMG India CEO)

Overview of Alt DRX

• Business Model: Digital-first approach to property ownership; tokenized residential real estate, allowing fractional investment.
• Technology: Utilizes blockchain (XRPL Ripple) for secure and transparent transactions, with a custodial ledger system.
• Transaction Volume: Approximately 100,000 transactions annually.
• Future Plans: Scale customer acquisition, strengthen technology platform, and manage corporate expenses.

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2025-05-05 11:10:16