Payment Ring Startup Seven Raises Rs 4 Crore in Pre-Series A Round Led by Venture Catalysts

Mumbai-based fintech startup behind India's first indigenous contactless payment smart ring, 7 Ring, has raised Rs 4 crore in its pre-Series A round led by Venture Catalysts. 

 Existing investor Vinners (a SEBI-registered Category 1 AIF) and Anchorage Capital Partners, backed by the family office of the Sheth family, promoters of The Great Eastern Shipping Company, also participated in this round.

Read also- Mahaveer Finance raises Rs 200 crore led by Elevation Capital and others

This move shows Venture Catalysts’ strong support for new ideas in India’s fast-growing digital payments market, which is expected to reach Rs 577 trillion by FY29.

The new investment will help Seven boost production of its main product, 7 Ring, launch a more affordable version called 7 Ring Air by Q2 FY 2026, and expand sales through metro stations and online platforms like Amazon and flipkart.

 Dr. Apoorva Ranjan Sharma, Co-founder, Venture Catalysts said, “Seven’s vision to merge fashion with fintech aligns perfectly with India’s journey toward becoming a global leader in digital transactions. The 7 Ring is a paradigm shift in how 1.4 billion Indians interact with currency. By eliminating charging needs and smartphone dependency, the device democratizes access to secure payments for nationwide merchants, metro commuters, and urban millennials alike. Venture Catalysts recognizes the transformative potential of this innovation, wearable tech that leverages RuPay’s trust and reach, all while delivering 66% gross margins. Our investment is a bet on India’s ability to pioneer frugal engineering solutions for the world.”

Vijay Khubchandani, Founder and CEO, Seven, commented, “Venture Catalysts’ mentorship will accelerate our roadmap to deploy 30 lakh rings by 2028. Apart from capital, we will also benefit from their extensive network in terms of invaluable guidance. With the support of our other investors, we aim to transform metro gates and kirana stores into frictionless payment zones. This funding enables us to deploy 30 lakh rings by 2028, targeting 15 million daily metro riders and 60 million UPI users. Beyond building a company, we at Seven are architecting India’s contactless payment infrastructure.”

About Seven 

Founded by Vijay Khubchandani, Mahek Savla, and Karthik Menon, Seven offers a wearable fintech device that lets users make secure tap-and-pay payments using NFC—no need for charging, PINs, or even a smartphone.

The device, certified by RuPay and MasterCard, connects to a UPI-powered prepaid wallet and is made from durable, IP68-certified zirconia ceramic. Seven earns revenue through POS and metro interchange fees. It’s currently testing NCMC support and working on credit card tokenization.

After gaining early attention on Shark Tank India, Seven now plans to roll out 30 lakh rings by 2028, focusing on daily metro riders and UPI users.

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