A 1.4% minority stake in Alt DRX, a fintech startup leading the way in asset and real estate tokenization in India, has been acquired by Nila Spaces, a design-led real estate developer, for Rs 6 crore.
Nila Spaces claims that the investment marks a significant advancement in hastening the real estate tokenization movement’s shift from early adoption to widespread expansion. International organizations and Indian family offices have also participated in the current funding round.
According to the Ahmedabad-based business, the collaboration with Alt DRX strengthens the company’s dedication to financial innovation that increases housing access, transparency, and long-term value creation.
The partnership will concentrate on creating tokenized housing products that are investor-friendly, compliant with regulations, allow fractional ownership, and lower entry barriers for a larger group of people while upholding institutional-grade governance and transparency.
The Sambhaav Group owns Nila Spaces, a real estate development firm headed by Deep Vadodaria. It specializes in building residential and commercial projects, with a particular emphasis on GIFT City projects, luxury apartments, and affordable housing. In Gujarat, the business owns a sizable land bank.
Alt DRX is a fintech prop-tech startup based in Bengaluru that was founded in 2021 by Anand Narayanan KB. It allows users to purchase and sell residential real estate in increments as small as one square foot. In addition to providing rental income and the possibility of capital growth, the platform makes use of blockchain technology (Ripple’s XRPL) for safe, transparent transactions.
