Mumbai-based wearable fintech startup Seven has raised ₹4 crore in a pre-Series A round led by Venture Catalysts, with additional participation from Vinners and Anchorage Capital Partners, backed by the Sheth family office.
The funding will power mass production of its flagship product, the 7 Ring, and support the launch of a more affordable variant—7 Ring Air—by Q2 FY26.
The startup also plans to expand distribution via metro stations and online platforms like Amazon and Flipkart to drive adoption among everyday UPI users.
Founded by Vijay Khubchandani, Mahek Savla, and Karthik Menon, Seven offers a RuPay and MasterCard-certified NFC smart ring that enables tap-and-pay functionality without needing charging, PINs, or smartphones. The IP68-certified zirconia ceramic ring connects to a UPI-powered prepaid wallet, creating a seamless and secure offline payment experience.
Also Read | 7 Ring Secured INR 75 Lakh Deal on Shark Tank India Season 4
Seven generates revenue from POS and metro interchange fees, and is currently beta testing NCMC (National Common Mobility Card) compatibility while developing credit card tokenization capabilities.
After gaining national attention on Shark Tank India, the startup now targets 30 lakh ring deployments by 2028, with a focus on metro commuters and high-frequency digital payment users.
