What does Alt DRX do?
Alt DRX is a tokenized digital real estate marketplace that leverages blockchain technology, specifically US-based XRPL Ripple infrastructure, to enable KYC-whitelisted users to buy and sell tokenized residential properties by the square foot. The platform uses algorithmic daily pricing and instant settlements to ensure transparency and security in digital transactions.
How much did they raise?
The company secured $2.7M in Pre-Seed funding led by investors such as Qatar Development Bank, Times of India Brand Capital, Hindustan Media Ventures, Zee Group, WeFounder Circle Angel Fund, and nX Capital, with participation from angel investors including Harsha Bhogle, Parthasarathy, and Richard Rekhy.
What are their plans for the money?
Alt DRX intends to utilize the funds to expand its operations and accelerate its development efforts, enhancing its platform's capabilities in delivering secure, transparent, and programmable digital real estate transactions. This move is expected to widen market access and further integrate blockchain technology into real estate processes.
What have they achieved so far?
The company has already demonstrated its innovative approach by being accepted into the innovation sandbox of the International Financial Services Centre Authority (IFSCA) at GIFT City in Gujarat, India, highlighting its commitment to transforming the real estate industry.
