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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.

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.

EV startup ALT Mobility raises $10 Mn in Series A

EntrackrEntrackr · 1y ago
EV startup ALT Mobility raises $10 Mn in Series A
Medial

Commercial electric vehicle (EV) leasing and asset management company ALT Mobility has secured $10 million in a Series A funding round led by European venture capital firm Eurazeo. The round also witnessed participation from its existing investors Shell Ventures, Twynam Earth Fund, and EV2 Ventures. The Delhi-based company had previously raised $6.45 million from its existing investors. The proceeds will be allocated towards expanding its digital asset management platform, standardizing its battery technology, expanding its fleet to 30,000 vehicles by March 2026, and managing Rs 800 crore in assets under management (AUM) over the next 18 months, ALT Mobility said in a press release. Co-founded in 2021 by Dev Arora, Anuj Gupta, Harsh Dev Goyal, Jay Gupta, and Manas D Arora, ALT Mobility is a full-stack EV leasing platform offering mobility as a service (MaaS) for commercial vehicle users. It simplifies financing and provides reliable technology that supports the transition of intra-city logistics to electric mobility, reducing carbon footprints and improving profitability. ALT Mobility claims to have a fleet of 10,000 vehicles across 20 Indian cities leased to fleet operators and drivers. The company offers a comprehensive solution, including leasing, servicing, charging, real-time fleet monitoring, and data-driven insights to ensure low total cost of ownership and maximum fleet uptime. ALT Mobility plans to expand its offerings to the driver-cum-owner segment, introducing innovative 'drive-to-own' options and leasing products for four-wheeler light commercial vehicles and cars. It also aims to roll out a Battery-as-a-Service (BaaS) model for second-life vehicles.

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