Alt DRX, a Bengaluru-based startup working on tokenised digital real estate, raises Rs 23 crore

Bengaluru-based startup Alt DRX, which is aiming to reinvent how residential real estate is bought, sold, and traded, has raised Rs 23 crore ($2.7 million) in a fresh funding round backed by a mix of institutional and marquee individual investors.

The round saw participation from Qatar Development Bank, WeFounder Circle Angel Fund, and nX Capital, alongside angel investors like cricket commentator Harsha Bhogle, Mindtree co-founder Parthasarathy, and former KPMG India CEO Richard Rekhy.

What does Alt DRX do?

Founded by Anand Narayanan, Alt DRX offers a new digital-first approach to property ownership: tokenised residential real estate that can be purchased one square foot at a time, with algorithmic pricing, instant settlements, and blockchain-powered transparency.

“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 Narayanan.

Alt DRX's model allows verified users to invest in fractionalised residential property through a custodial ledger system powered by XRPL Ripple's blockchain. Each transaction is securely recorded, and ownership is transparent and compliant with KYC norms.

The platform currently records around 100,000 transactions annually, underscoring growing demand for asset-light, highly liquid real estate investing. The startup said it will use the new capital to scale customer acquisition, strengthen its proprietary technology platform, and cover corporate expenses.

The startup is part of the innovation sandbox of the International Financial Services Centre Authority (IFSCA) at GIFT City in Gujarat. It is also part of the Qatar Financial Centre's Digital Assets Lab, signalling its global aspirations.