Bengaluru-based proptech startup Alt DRX has secured Rs 23 crore ($2.7 million) in a fresh funding round. The company is set to revolutionise how Indians invest in residential real estate, making property ownership more accessible, transparent, and liquid than ever before.
What is Alt DRX?
Alt DRX is a digital-first real estate marketplace. Founded by Anand Narayanan, the company lets users invest in residential properties by buying tokenised units as small as one square foot. This approach uses blockchain technology for secure, transparent, and instant transactions, making real estate investment as easy as trading stocks.
Who Invested in Alt DRX?
The latest funding round saw participation from top institutional and individual investors, including notable angel investors like cricket commentator Harsha Bhogle, Mindtree co-founder Parthasarathy, and former KPMG India CEO Richard Rekhy.
How Does Alt DRX Work?
- Fractional Ownership: Investors can buy and sell property in fractions, starting from just one square foot.
- Blockchain-Powered: Transactions are recorded on XRPL Ripple’s blockchain, ensuring transparency and security.
- Instant Settlements: Algorithmic daily pricing and instant settlements make the process fast and reliable.
- Verified Users: Only KYC-approved users can invest, keeping the platform secure and compliant.
Why is This a Game-Changer for India?
Traditionally, real estate investment in India required large capital and long holding periods. Alt DRX breaks these barriers:
- Low Entry Point: Anyone can start investing with small amounts.
- High Liquidity: Investors can buy and sell their property shares anytime via the mobile app.
- Rental Income: Investors earn rental income from the properties listed on the platform.
- Transparency: Every transaction is traceable, reducing fraud and disputes.
Rapid Growth and Future Plans
Alt DRX is already seeing impressive traction, with around 100,000 transactions recorded annually. The new funds will be used for:
- Expanding customer acquisition
- Strengthening the technology platform
- Purchasing more residential assets
- Covering regulatory and operational expenses.
The startup is part of the International Financial Services Centre Authority (IFSCA) innovation sandbox at GIFT City in Gujarat and has joined the Qatar Financial Centre’s Digital Assets Lab, showing its global ambitions.
The Bigger Picture
Tokenisation of real-world assets is emerging as a major trend, with real estate leading the way. Alt DRX is positioning itself at the forefront of this digital revolution in property investment.