One Ecosystem, Four Verticals:
How Elanzia, RamMudra, BullionX and GoldSense Work Together

The IGM (India Gold Metaverse) verticals are four connected platforms bringing together commerce, intelligence, ownership and trading within one ecosystem.

Gold in India has long been tied to three things. Jewellery stores. Bullion markets. Owning the gold itself.

That was true once, but it’s not the whole story anymore. People want an advanced way to discover, test, trade and own gold with technology behind every step. The IGM verticals bring these experiences together in one ecosystem.

IGM (India Gold Metaverse) is headquartered in Mumbai. It is a technology ecosystem for gold and jewellery.

The four verticals of IGM are GoldSense™, RamMudra™, BullionX™ and Elanzia™. Each addresses a distinct segment of the gold value chain, from testing to ownership to trading to jewellery discovery. Together, they make up the IGM product suite.

GoldSense™ is a portable, AI-powered digital karatometer designed to redefine gold purity testing. Using advanced non-destructive analysis, it can examine both surface and sub-surface characteristics of gold [up to 14 mm of composite material depth across two assessments (7 mm + 7 mm)], bringing greater intelligence and technological precision to purity assessment without damaging the ornament or asset being tested.

Its portable form factor is designed to take gold testing closer to the point of transaction, whether at a jewellery store, bank, NBFC, gold-loan counter or other environment where purity assessment is critical.

RamMudra™ is a blockchain-enabled digital gold ecosystem backed by physical gold. Designed around trust, transparency and secure ownership, it seeks to bridge the worlds of digital and physical gold, making gold more accessible, transferable and relevant to a new generation of consumers. The ecosystem also extends into physical gold coins, creating a tangible expression of ownership alongside its digital architecture.

BullionX™ is a next-generation bullion trading platform created to make bullion transactions more efficient, transparent and technology-driven. Supported by secure logistics, competitive pricing and T+1 delivery, it aims to modernise the way bullion is bought and traded.

Elanzia™ is India’s first AI-led curated fine jewellery marketplace, creating a Pan-India digital platform for jewellers to showcase and sell their collections to customers across the country. It enables jewellers to expand their reach beyond the limitations of physical showrooms and inventory-led growth, while giving consumers access to a wider universe of curated fine jewellery.

By bringing multiple jewellers onto a single technology-led platform, Elanzia™ seeks to make jewellery discovery broader, more convenient and more personalised.

IGM’s platform addresses this by connecting different stages and needs across the gold value chain rather than forcing every user into one product.

Each vertical owns one step.

• Intelligence:GoldSense™ tests purity with AI and non-destructive analysis.
• Ownership:RamMudra™ holds gold as digital ownership backed by physical gold.
• Trading:BullionX™ moves bullion through a technology-driven platform.
• Commerce:Elanzia™ connects jewellers and customers in one marketplace.

The result is an integrated gold platform. No single step stands alone, and each one adds to the next. The connection is therefore not simply about moving a customer from one platform to another. It is about creating a shared technology ecosystem around gold.

IGM describes this model as bringing together markets, businesses and institutions through digital infrastructure, with technology connecting traditionally fragmented parts of the bullion and jewellery ecosystem

A jeweller can start with Elanzia™ to reach customers across India. It combines the trust and craftsmanship associated with traditional jewellery buying with the reach and convenience of digital commerce. Its philosophy is captured in the idea: Digitally Discovered. Physically Delivered.

GoldSense™ then adds purity testing at the counter, seeking to make gold assessment faster, smarter, deeper and more accessible. The right choice depends on the task at hand.

Yes! IGM four platforms serves both businesses and consumers

• B2C:RamMudra™ is aimed at consumers, and Elanzia™ gives consumers access to curated fine jewellery.
• B2B:GoldSense™ serves jewellers, banks, NBFCs and gold-loan counters. BullionX™ serves bullion dealers and institutions. Elanzia™ gives jewellers a platform to sell.

This B2B and B2C reach is one reason the IGM product suite functions as an ecosystem rather than a single-purpose platform.

A single product solves one problem. IGM verticals cover four different segments of gold, and one shared vision joins them: "Gold is Technology™".

That vision comes from IGM's Mentor and Coach, Mr. Jignesh Shah. It aims to bring four traits to gold. Programmability, Transmissibility, Fractionalization and Transparency. Because each vertical works toward the same traits, IGM is an ecosystem and not a catalogue of separate tools. Together, these four verticals represent IGM’s larger vision: to build a connected technology infrastructure around gold

GoldSense™ tests gold. RamMudra™ digitises ownership. BullionX™ trades it. Elanzia™ brings it to the customer as jewellery.