• Seven’s 7 Ring is a contactless wearable certified by RuPay and MasterCard that does not require charging, a PIN, or a smartphone.
  • The ₹4 crore pre-Series A round was led by Venture Catalysts, with support from Vinners and Anchorage Capital Partners.

Mumbai-based wearable payments startup Seven has raised ₹4 crore in a pre-Series A funding round, led by early-stage investor Venture Catalysts.

The round also saw participation from Vinners, a SEBI-registered Category I AIF, and Anchorage Capital Partners, backed by the Sheth family of The Great Eastern Shipping Company.

The funding will be used to scale production of Seven’s flagship 7 Ring and support the upcoming launch of the 7 Ring Air, a more affordable model expected to debut between July and September 2025.

Contactless Payments, No Charging Required

Certified by RuPay and MasterCard, the 7 Ring allows users to make tap-and-pay transactions via an NFC-enabled prepaid wallet.

It requires no smartphone, charging, or PIN, positioning it as a practical alternative in India’s increasingly mobile-first payment environment.

“Seven’s vision to merge fashion with fintech aligns perfectly with India’s journey toward becoming a global leader in digital transactions,” said Dr. Apoorva Ranjan Sharma, co-founder of Venture Catalysts.

Hardware Built for Mass Adoption

Founded by Vijay Khubchandani, Mahek Savla, and Karthik Menon, Seven is focused on building durable, user-friendly fintech hardware. Its flagship ring is made of IP68-rated zirconia ceramic and works with traditional POS systems and transit gates.

Currently, the product is being beta-tested for National Common Mobility Card (NCMC) use. Seven also plans to integrate credit card tokenisation in future updates.

The company earns interchange fees of 1.08% at retail terminals and 0.40% at transit points.

After gaining visibility on Shark Tank India, the company is targeting the deployment of 3 million rings by 2028.

India’s digital payments volume continues to soar, with FY25 alone recording 185.8 billion UPI transactions.

Edited by Annette George