Alt DRX raises Rs 23 Cr from Qatar Development Bank, others

Here’s a structured summary based on the provided information about Alt DRX:

Alt DRX Funding Details

• Startup Name: Alt DRX
• Founded By: Anand Narayanan
• Fundraise Amount: ₹23 crore ($2.7 million)
• Funding Round: Not specified (assumed to be Seed or Series A based on the amount and context)
• Date: Not provided

Investors

Institutions:

1. Qatar Development Bank
2. WeFounder Circle Angel Fund
3. nX Capital

Individual Investors:

1. Harsha Bhogle (commentator)
2. Parthasarathy (Mindtree founder)
3. Richard Rekhy (former CEO of KPMG India)

Purpose of Fundraising:

• Customer acquisition
• Improving technology platform
• Managing operational costs

Additional Information:

• Technology: Operates on XRPL Ripple’s blockchain and utilizes an algorithmic pricing model.
• Business Model: Allows users to invest in residential real estate via tokenized units measured by square foot.
• Transaction Volume: Approximately 100,000 transactions per year.
• Affiliations: Joined Qatar Financial Centre’s Digital Assets Lab and participates in IFSCA’s innovation sandbox at GIFT City.

This structured format provides a clear overview of the key elements associated with Alt DRX’s funding and operational model.

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2025-05-05 07:52:33