New Delhi, March 16 -- How a Mumbai-based company built a vertically integrated gold platform while several venture-backed peers struggled to sustain their models.

The Lure of India's Golden Market

There is perhaps no commodity more deeply embedded in the Indian psyche than gold. India consumes approximately 1,200 tonnes of gold annually, sits on an estimated 27,000 tonnes of household gold, and has a gold loan market exceeding Rs.15 lakh crore by FY26.

For startup investors, these numbers signal a vast and emotionally driven market that has historically been underserved by technology.

Over the past decade, venture capital flowed into goldtech startups with considerable enthusiasm. From digital savings apps to doorstep gold loan start...