Alt DRX Raises Rs 23 Cr Funding From Qatar Development Bank, others

The Bengaluru-based 'tokenised’ digital real estate platform Alt DRX has raised Rs 23 crore ($2.7 million) in a funding round from institutions including Qatar Development Bank, WeFounder Circle Angel Fund and nX Capital. 

Angel investors Harsha Bhogle of Golden Voice of Cricket, Mindtree founder Parthasarathy, and former KPMG India CEO Richard Rekhy and others also participated in this round.

The startup plans to use the funds to attract more customers, improve technology, and cover business expenses.

Read also- Store My Goods Secures Rs 4 Cr Funding Led By JIIF

“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,” said Narayanan.

About Alt DRX

Founded in 2021 by Anand Narayanan, Alt DRX lets users invest in residential real estate by buying tokenised units based on square footage. These transactions use blockchain and are priced through an automated system.

The platform runs on Ripple’s XRPL blockchain and keeps a secure record for users who have completed KYC. This setup ensures digital ownership and secure transactions.

Alt DRX is also part of Qatar Financial Centre’s Digital Assets Lab and is working with IFSCA’s innovation sandbox at GIFT City.

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