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

EntrackrEntrackr · 2m 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.

EV startup ALT Mobility raises $10 Mn in Series A

EntrackrEntrackr · 7m 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.

Turbostart leads $2.5 Mn round in Lighthouse PropTech

EntrackrEntrackr · 3m ago
Turbostart leads $2.5 Mn round in Lighthouse PropTech
Medial

Snippets Turbostart leads $2.5 Mn round in Lighthouse PropTech Proptech startup Lighthouse PropTech has raised $2.5 million in a new funding round. Turbostart led the round with $1 million, along with participation from the Dabur Family Office and several other HNI family offices, valuing the company at $13.5 million. The fresh funds will be utilized for expansion as it builds a technology-driven platform for luxury real estate transactions in India, Lighthouse stated in a press release. Launched by Sumesh Mishra, Lighthouse PropTech aims to empower its clients with innovative solutions to efficiently manage their luxury real estate portfolios. The company’s offerings include Luxury Listings—an exclusive platform showcasing premier, handpicked properties—and Luxury Exclusives, which provides tailored experiences and bespoke property opportunities. According to Lighthouse PropTech, it is developing a next-generation digital platform to transform luxury real estate transactions for HNIs and UHNIs, offering a seamless, AI-powered investment experience. Market research indicates that India's luxury real estate market is experiencing unprecedented growth, with the segment expected to surpass $100 billion by 2030, growing at a CAGR of 21.81%. Founded in 2019, Turbostart is a global early-stage venture capital firm and accelerator. With a global presence spanning India, the Middle East, the US, and Singapore, Turbostart has launched five funds over five years, supporting over 50 diverse startups across various sectors and stages.

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