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ALT DRX - Seed
Overview
Funding Date
March 22, 2023
Financing amount
$3.6M
Valuation
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Category
Subcategory
About ALT DRX - Seed
The start-up, with an India first launch strategy has raised in a seed round, US$ 1.6 mn in equity and $ 2.0 mn in callable mezz debt for co-investing into real estate assets. ALT DRX has in its seed rounds, seen investor participation from one of India's top law firm, renowned family offices, successful start-up founders, unnamed senior professionals from Development Bank of Singapore, Ernst & Young, HSBC, Volvo, Salesforce amongst others.
Company Profile / Project Introduction
ALT DRX has launched the Digital Real Estate Marketplace, allowing Indians to invest in dematerialised Real Estate. ALT DRX will allow owners of these real estate assets to dematerialise their real estate ownership, into Tokenised Tradeable Digital Assets, i.e., say a 50,000 sqft building being Tokenised into 50,000 Tradeable Digital Assets, each of which hold the economic value, proportionate to 1 SQFT of the said property.
Alt RealTech Pvt Ltd, owns the platform www.AltDRX.com. Anand Narayanan, a veteran banker cum real estate professional and Avinash Rao, a senior Telecom & real estate professional, along with 7 senior professionals; Prashanth Aroor (Co-Founder - Hotel Assets), Avijit Mishra (Co-Founder - Office & Warehousing Assets), Willibrord George (Co-Founder - School Assets), Nikhil Joshi (Co-Founder - Global Real Estate), Sanjeet (Co-Founder - Land Assets), Sachin Joshi (Co-Founder & CTO) and Rajesh Krishnamurthy (Co-Founder - Tokenomics) are the core founding team of ALT.