Mumbai-based fintech startup Seven, known for its smart contactless payment device called 7 Ring, has raised INR 4 crore in a pre-Series A funding round.
Early-stage investor Venture Catalysts led the round. Existing investors Vinners and Anchorage Capital Partners, supported by the Sheth family office, also took part.
With this new funding, Seven will increase production of its main product, the 7 Ring, and create a new, more affordable version called 7 Ring Air by the second quarter of 2026.
The company will also work on selling more of its payment devices at metro stations and online through websites like Amazon and Flipkart.
Vijay Khubchandani, Mahek Savla, and Karthik Menon established seven.
The main product is called 7 Ring. It’s a smart wearable that lets you make secure payments by just tapping it on payment machines. It uses NFC technology, so you don’t need a phone, a PIN, or even to charge it.
The 7 Ring is approved by RuPay and MasterCard and is linked to a prepaid wallet powered by UPI. This means you can use it to pay at many shops and services across India that accept digital payments. It’s made from a special ceramic material that makes it waterproof and dustproof, so it’s tough enough for everyday use.
Seven makes money from fees charged when people use their payment devices at stores and metro stations. Right now, they are testing a new feature to support the National Common Mobility Card (NCMC), which will let users pay for public transport all over India using the 7 Ring.
The team is also working on a way for users to link their credit cards to the 7 Ring so they can use it to pay with credit cards, too.
After appearing on Shark Tank India and showing its smart payment device, the startup got a lot of attention from people. Since then, interest in their product has grown. Their goal is to sell 3 million rings by 2028.
They mainly want to reach metro commuters and people who use UPI payments and want a faster, easier way to pay without needing to carry their phones or cards.
With this new funding, the startup plans to grow in India’s fast-growing wearable payments market. As more people use digital payments, smart devices like the 7 Ring are expected to become a bigger part of how people pay every day.
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