“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.
The funds will be used for customer acquisition, strengthening technology and on corporate expenses.
Alt DRX aims to make residential real estate accessible by enabling customers to buy and sell tokenized residential properties one square foot at a time, on the back of algorithmic daily pricing, instant settlements, and blockchain-powered transparency.
Leveraging US-based XRPL Ripple’s blockchain infrastructure, the startup claims that its KYC-whitelisted users’ custodial ledger positions are securely recorded and provide a transparent digital real estate ownership experience.
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“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. In a recent report, consultancy Boston Consulting Group and Ripple estimated the RWA Tokenization market will be worth $18 trillion by 2033, with Real Estate and Alternate Investment Funds (PE / VC / Hedge) being among the top three asset classes to be tokenized into tradeable digital assets.
Headquartered in Bengaluru, Alt DRX says it is growing at about 100,000 transactions per annum. The company is part of the innovation sandbox of the International Financial Services Centre Authority (IFSCA) at GIFT City in Gujarat. Further, it has gained admission into Qatar Financial Centre’s Digital Assets Lab and tokenized Real-World Asset (RWA) Tokenization marketplace.
