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Mumbai-based fintech startup Seven, the maker of contactless payment smart ring, 7 Ring, has raised Rs 4 crore in its pre-Series A round led by Venture Catalysts.
The round also saw participation from existing investor Vinners and Anchorage Capital Partners, backed by the Sheth family office.
The proceeds will be used to scale production of the flagship 7 Ring, launch a more affordable variant called 7 Ring Air by Q2 FY26, and expand distribution through metro stations and e-commerce platforms like Amazon and Flipkart.
Founded by Vijay Khubchandani, Mahek Savla, and Karthik Menon, Seven offers a wearable fintech solution that enables secure tap-and-pay transactions via NFC, without the need for charging, PINs, or smartphones.
The RuPay and MasterCard-certified device links to a prepaid wallet powered by UPI and is designed with an IP68-certified zirconia ceramic build. Seven earns revenue through POS and metro interchange fees, and has begun beta testing NCMC compatibility and is working on credit card tokenization.
The firm gained early visibility on Shark Tank India and now aims to deploy 30 lakh rings by 2028, targeting daily metro commuters and UPI users.
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