Alt DRX, a tokenized digital real estate marketplace headquartered in Bengaluru, has successfully garnered USD 2.7 million (approximately Rs 23 crore) to fuel its business expansion plans.
The company announced on Monday its completion of the Pre-Series A funding round, having raised the substantial amount, attracting investors such as Qatar Development Bank, Times of India Brand Capital, and Hindustan Media Ventures. High-profile angel investors, including cricket commentator Harsha Bhogle, Mindtree founder Parthasarathy, and former KPMG India CEO Richard Rekhy, also participated.
Alt DRX’s innovative platform allows people to invest in residential real estate by purchasing tokenized property shares in increments as small as one square foot. The system leverages algorithmic daily pricing and blockchain technology to ensure transparency and quick transactions. CEO Anand Narayanan indicated that the funds would support the purchase of residential assets, enhance technology, and cover marketing and regulatory license expenses.
(With inputs from agencies.)
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