Tokenised Digital Real Estate – Alt DRX Secures Rs 23 Crore Funding

Tokenised digital real estate firm Alt DRX, located in Bengaluru, has garnered Rs 23 crore ($2.7 million) in a funding round involving institutions such as Qatar Development Bank, WeFounder Circle Angel Fund, and nX Capital.

Noteworthy individual investors, including commentator Harsha Bhogle, Mindtree founder Parthasarathy, and former KPMG India CEO Richard Rekhy, have also participated in this funding round.

The funds will be directed towards enhancing customer acquisition strategies, refining the technology platform, and overseeing operational expenditures.

About Alt DRX and Its Offering

Founded by Anand Narayanan, Alt DRX enables users to invest in residential properties by buying tokenised units measured on a square foot basis. The transactions are processed via an algorithmic pricing model and supported by blockchain infrastructure.

How It Works

Alt DRX leverages XRPL Ripple’s blockchain, maintaining a custodial ledger specifically for KYC-approved users. This setup promotes digital ownership and offers reliable transaction records.

Partnerships and Opportunities

Additionally, Alt DRX has become a part of Qatar Financial Centre’s Digital Assets Lab and is actively engaged in IFSCA’s innovation sandbox at GIFT City.

Market Potential

A report from BCG and Ripple predicts that the tokenisation of real-world assets could reach $18 trillion by 2033, with the real estate sector being a significant contributor. Currently, Alt DRX manages approximately 100,000 transactions annually.