India's gold economy — one of the largest but most fragmented traditional industries — is getting a technology backbone. India Gold Metaverse (IGM) has raised ₹300 crore from private equity investors and secondary placement to build what it calls the first-ever integrated digital infrastructure for the gold economy, according to the company.
The proceeds from the equity investment will be used to develop technology, drive product commercialisation, expand the ecosystem, forge strategic partnerships, engage in regulatory initiatives, and grow the team, the company stated in a release.
The transaction saw participation from a group of investors including Ashish Kacholia, Jagdish Master Family Office, Waaree Family Office, Ravi Sheth Family Office, and Anuj Sheth Family Office. Pantomath Group, a leading investment bank, facilitated the fund raise.
Jignesh Shah, Founder of 63 Moons, serves as the Mentor and Coach of IGM. The company combines Blockchain, Artificial Intelligence, and financial market technologies to formalise gold trading and ownership.
The Four Platforms
IGM's technology stack comprises four interconnected platforms, each addressing a different segment of the gold value chain:
| Platform | Function | Target Users |
|---|---|---|
| Elanzia | Aggregation platform for jewellers and bullion participants | Jewellers, bullion dealers |
| RamMudra | Blockchain-enabled digital gold and coins | Consumers, investors |
| GoldSense | AI-powered purity verification engine | Jewellers, refiners, regulators |
| BullionX | Institutional trading infrastructure for price discovery, liquidity, and settlement | Financial institutions, exchanges |
Together, these platforms seek to formalise one of India’s largest traditional industries while unlocking new opportunities for consumers, jewellers, investors and financial institutions, the company said.
Executive Perspectives
Lamon Rutten, MD & CEO of India Gold Metaverse, said the equity private placement validates the belief that India’s gold industry is ready for a technology-led transformation. "The capital will enable the company to accelerate platform development, expand the ecosystem, deepen strategic partnerships and build scalable digital infrastructure that creates long-term value for every stakeholder across the gold value chain," he said.
Mahavir Lunawat, CMD of Pantomath Group, said India Gold Metaverse has the potential to become a foundational digital infrastructure platform for the gold economy by bringing together technology, trust and market efficiency on a single ecosystem. "The participation of marquee investors reflects confidence in both the scale of the opportunity and the leadership team’s ability to execute a long-term vision," he said.
Implications for Enterprise Technology Leaders
For CTOs and technology procurement leaders in financial services and commodities trading, IGM's integrated approach — spanning aggregation, digital asset tokenisation, AI-driven verification, and institutional trading — offers a blueprint for digitising traditional commodity value chains. The use of blockchain for digital gold (RamMudra) and AI for purity verification (GoldSense) demonstrates how multiple technologies can converge on a single platform to address trust, efficiency, and liquidity challenges. The company's focus on regulatory initiatives also signals a push toward compliance-ready infrastructure, a key consideration for institutional adoption.
The participation of family offices and high-net-worth individuals alongside Pantomath Group indicates strong private capital interest in building foundational infrastructure for India's gold economy — a sector that has historically operated with low technology penetration.
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