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Alt DRX raises Rs 23 Cr from Qatar Development Bank, others

EntrackrEntrackr · 9m ago
Alt DRX raises Rs 23 Cr from Qatar Development Bank, others
Medial

Alt DRX raises Rs 23 Cr from Qatar Development Bank, others Alt DRX, a Bengaluru-based startup working on tokenised digital real estate, has raised Rs 23 crore ($2.7 million) in a funding round from institutions including Qatar Development Bank, WeFounder Circle Angel Fund, and nX Capital. Individual investors such as commentator Harsha Bhogle, Mindtree founder Parthasarathy, and former KPMG India CEO Richard Rekhy also joined. The proceeds will be used for customer acquisition, improving its technology platform, and managing operational costs. Founded by Anand Narayanan, Alt DRX allows users to invest in residential real estate by purchasing tokenised units measured by square foot. Transactions are settled through an algorithmic pricing model and blockchain infrastructure. It operates on XRPL Ripple’s blockchain and maintains a custodial ledger for KYC-approved users. This structure supports digital ownership and transaction records. Alt DRX has also joined Qatar Financial Centre’s Digital Assets Lab and participates in IFSCA’s innovation sandbox at GIFT City. According to a report by BCG and Ripple, the tokenisation of real-world assets could reach $18 trillion by 2033, with real estate as one of the key segments. Alt DRX currently handles around 100,000 transactions per year.

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Nila Spaces acquires minority stake in fintech startup Alt DRX

EntrackrEntrackr · 3d ago
Nila Spaces acquires minority stake in fintech startup Alt DRX
Medial

Nila Spaces, a design-led real estate developer, has invested Rs 6 crore to acquire an approximately 1.4% minority stake in Alt DRX, a fintech startup at the forefront of asset and real estate tokenization in India. According to Nila Spaces, the investment signals a decisive step in accelerating the transition of real estate tokenization from early adoption to scaled growth. The current funding round has also seen participation from global institutions and Indian family offices. The Ahmedabad-based company says that the partnership with Alt DRX reinforces the company’s commitment to financial innovation that expands access, transparency, and long-term value creation in housing. The collaboration will focus on developing regulatory-compliant, investor-friendly tokenized housing products, enabling fractional ownership and lowering entry barriers for a wider demographic, while maintaining institutional-grade governance and transparency. Led by Deep Vadodaria, Nila Spaces is a real estate development company part of the Sambhaav Group. It specializes in developing residential and commercial projects, focusing on affordable housing, luxury apartments, and projects within GIFT City. The company has a significant land bank in Gujarat. Launched in 2021 by Anand Narayanan KB, Alt DRX is a Bengaluru-based fintech prop-tech startup that enables fractional ownership of residential real estate, allowing users to buy and sell property in increments as small as 1 square foot. The platform uses blockchain technology (Ripple's XRPL) for secure, transparent transactions and offers rental income alongside potential capital appreciation.

Legaltech startup LegalKart raises Rs 6.5 Cr in fresh round

EntrackrEntrackr · 1y ago
Legaltech startup LegalKart raises Rs 6.5 Cr in fresh round
Medial

LegalKart, a legal consultation platform, raised Rs 6.5 crore in its latest funding round from IIM Udaipur Incubation Centre. Aevitas Capital, Shift Alt Cap, and others have also participated. Earlier in January 2022, the Gurugram-based startup had raised Rs 4 crore in its pre-Series A round led by Mumbai Angels and others. The proceeds will be infused to ramp up company’s growth and drive the development of its AI-enabled legal technology solutions. Founded in 2019 by Arvind Singhatiya, LegalKart provides legal services with AI-driven documentation, consultations, and tailored digital solutions. The platform allows users to connect with legal professionals and lawyers in all Indian languages through audio and video calls, ensuring greater accessibility. LegalKart goes beyond consultations, offering services like property document verification, vehicle challan payments, and convenient review and drafting of legal documents. In the last 8 months, LegalKart claims to have witnessed a 453% jump in its business topline. The newly infused funds will be strategically utilized to fuel this exponential growth, introduce new AI-driven products, and expand LegalKart’s presence in India’s tier II and tier III cities.

Shivalik Small Finance Bank raises Rs 100 Cr from SMBC, Accel, Lightspeed, others

EntrackrEntrackr · 5m ago
Shivalik Small Finance Bank raises Rs 100 Cr from SMBC, Accel, Lightspeed, others
Medial

Shivalik Small Finance Bank raises Rs 100 Cr from SMBC, Accel, Lightspeed, others. Shivalik Small Finance Bank (SSFB), a small finance bank transitioning from an urban cooperative bank, has raised Rs 100 crore in equity capital. The funding round was led by SMBC Asia Rising Fund- Japan, the corporate venture capital arm of Sumitomo Mitsui Banking Corporation (SMBC), with additional participation from existing investors, Accel, Quona Capital, Lightspeed, and Sorin Investments. The proceeds will be utilised to strengthen its technology stack, expand workforce across critical functions such as product, engineering, and operations, and to develop scalable solutions through its rapidly growing banking-as-a-service (BaaS) proposition, SSFB said in a press release. Shivalik offers a full suite of retail and MSME-focused products, including savings accounts, fixed deposits, gold loans, overdrafts, and digital payments. It has also partnered with major insurance providers like Bajaj Allianz, Go Digit, Kotak Life, LIC, and New India Assurance to offer integrated financial solutions to its growing base of customers. As of FY24, Shivalik claims that it serves over 9 lakh customers across 79 branches and 114 business correspondent (BC) outlets in 11 states, with a workforce of around 800 employees. The bank has a business portfolio of over Rs 6000 crore and generated annual revenue of Rs 423 crore in the last fiscal year.

Mobility startup Pumpumpum raises Rs 2 Cr led by IPV

EntrackrEntrackr · 1y ago
Mobility startup Pumpumpum raises Rs 2 Cr led by IPV
Medial

Fintech mobility startup Pumpumpum has raised Rs 2 crore in a new round led by Inflection Point Ventures (IPV). Previously, the startup had raised $2 million in equity from LC Nueva Investment Partners, Founders Room Capital, LetsVenture and others in June 2022. The proceeds will be used for growth in operations, geographical reach, technological advancements, marketing endeavors and overall organizational development. Founded in 2018 by Tarun lawadia and Sameer Kalra, PumPumPum works in B2B2C & B2C pre-owned car leasing model. It offers a subscription-based platform that prioritizes consumer convenience, flexibility, and affordability. Through the integration of technology and data analytics, the firm delivers an easy and personalized experience for accessibility and convenience. Earlier this month, IPV invested in edtech startup MyCaptain in its Rs 14 crore (approximately $1.7 million) new round. Its recent investments include BonV Aero, AllTrak, Onedioss, among others.

Euler Motors raises Rs 638 Cr in Series D funding round

EntrackrEntrackr · 8m ago
Euler Motors raises Rs 638 Cr in Series D funding round
Medial

Euler Motors raises Rs 638 Cr in Series D funding round Commercial electric vehicle manufacturer Euler Motors has raised Rs 638 crore (approximately $75 million) in its Series D round, led by Hero MotoCorp, along with participation from existing investor British International Investment (BII). This latest infusion will be instrumental in expanding the company’s sales and service network, while advancing new product development to accelerate India’s commercial EV adoption. Last month, the company announced a $60 million investment from Hero MotoCorp. Entrackr also reported that British International Investment and Caladium Investment (GIC) contributed Rs 96 crore ($11.3 million) and Rs 32 crore ($3.76 million), respectively, in the Series D round. According to Entrackr’s estimates, Euler Motors' valuation remains flat at $176 million. Euler Motors has secured investments from prominent backers such as Blume Ventures, Athera Partners, Asian Development Bank Ventures, and the Piramal Alternatives India Access Fund. With the latest funding round, the company's total capital raised stands at approximately Rs 1,420 crore. Launched in 2018, Euler Motors specializes in the production of EV three-wheelers. The company has seen strong adoption across the e-commerce, retail, and logistics segments, backed by a growing portfolio of electric vehicles, including the HiLoad EV and the StormEV. “This is a strong vote of confidence both in India’s commercial electric mobility future and in Euler Motors’ execution and products. With this fresh capital and strategic backing from new and existing investors, we are poised to accelerate our scale, continue innovating to deliver superior products, and come a few steps closer towards becoming India’s No. 1 commercial EV brand,” said Saurav Kumar, founder and CEO of Euler Motors. Euler Motors reported a more than threefold increase in operating revenue year-on-year to Rs 189 crore in FY24 from Rs 62 crore in FY23. Despite this growth, the company posted a loss of Rs 227 crore during the same period. Euler competes with players like Altigreen, Mahindra Electric, Piaggio, Kinetic Green, Tata, and others.

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