The founding members of the Alt DRX Team. (People from L to R) Sachin Joshi – Co-Founder & CTO, Anand Narayanan -Principal Founder, Sanjeet Sahoo – Co-Founder Residential, Avinash Rao – Principal Founder, Avijit Mishra – Co-Founder Transactions
Alt DRX, a Bengaluru, India-based tokenised digital real estate marketplace, raised $2.7M in Pre-Series A funding.
Backers included Qatar Development Bank, Times of India Brand Capital, Hindustan Media Ventures, Zee Group, WeFounder Circle Angel Fund, nX Capital, and angel investors such as Harsha Bhogle (Golden Voice of Cricket), Parthasarathy (Founder of Mindtree), and Richard Rekhy (ex CEO of KPMG India).
The company intends to use the funds to expand operations and its development efforts.
Led by Sachin Joshi, Anand Narayanan, Sanjeet Saho, Avinash Rao and Avijit Mishr, Alt DRX is tokenization real estate marketplace enabling middle India to buy and sell tokenized residential properties one SQFT at a time, powered by algorithmic daily pricing, instant settlements, and blockchain-powered transparency. Leveraging US based XRPL Ripple’s blockchain infrastructure, Alt DRX ensures its KYC-whitelisted users’ custodial ledger positions are securely recorded for delivering transparency and creating a trusted, programmable digital real estate ownership experience.
Alt DRX is already part of the innovation sandbox of International Financial Services Centre Authority (IFSCA) at GIFT City in Gujarat India.
Courtesy: FINSMEs