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    HomeFinanceALT DRX, a digital realty exchange, secures $3.6 million in funding.

    ALT DRX, a digital realty exchange, secures $3.6 million in funding.

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    ALT DRX, a Bengaluru-based startup, has raised $3.6 million in funding to launch the world’s first digital real estate marketplace. The platform allows Indians to invest in dematerialised real estate, with the ability to buy as little as 1 square foot at a time. The company aims to solve the problem of illiquidity in mid-sized real estate assets and potentially open the gates for capital to move into socially relevant, rent-yielding real estate assets such as rental housing, hostels, care homes, holiday homes, schools, industrial warehousing, high-street retail, hotels and managed offices.

    ALT DRX enables owners of these real estate assets to dematerialise their ownership into tokenised tradeable digital assets. For example, a 50,000 square foot building can be tokenised into 50,000 tradeable digital assets, each holding the economic value proportionate to 1 square foot of the property. These tradeable digital assets can be bought, held, traded at real-time prices and settled instantaneously between pre-qualified, KYC compliant registered users. The platform uses a permissioned centralised blockchain-based ledger protocol that restricts the transfer of these digital assets to foreigners while attempting to build user credibility by using Zero Trust Architecture.

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    The startup has seen investor participation from one of India’s top law firms, renowned family offices, successful startup founders, and unnamed senior professionals from Development Bank of Singapore, Ernst & Young, HSBC, Volvo, Salesforce among others. The platform has also set up a unique Development Management Company for building income-generating alternate real estate assets in partnership with the Kolte Patil Family Office.

    The company aims to democratise real estate ownership by dematerialising it, empowering everyone to co-own high-quality residential and commercial real estate that are managed by professionals.

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    Rajesh M
    Rajesh Mhttps://www.telanganatribune.com
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