Seven, the Mumbai-based fintech startup has raised ₹4 crore in its pre-Series funding round led by Venture Catalysts.
The round also saw participation from 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.
The fresh funds raised will be used to scale production of its flagship 7 Ring, a RuPay and MasterCard-certified wearable that processes transactions at lightning-fast speeds without requiring charging, PINs, or smartphone apps. The device leverages NFC technology to enable secure tap-and-pay functionality via a prepaid wallet powered by UPI.
The funds will also accelerate the launch of 7 Ring Air, an affordable variant slated for the July-September 2025 quarter, and support Seven’s expansion into metro stations and e-commerce platforms like Amazon and Flipkart.
Founded in 2017 by Vijay Khubchandani, Mahek Savla, and Karthik Menon, Seven is a wearable fintech consumer electronic startup. Seven develops innovative products that enable secure tap-and-pay transactions via NFC, without the need for charging, PINs, or smartphones.
Seven has created a contactless payment smart ring, 7 Ring, which was featured on Sharktank. The device’s IP68-certified zirconia ceramic build ensures durability, while its 1.08% POS and 0.40% metro interchange fees create a dual revenue stream. The National Common Mobility Card (NCMC) compatibility has also rolled out in the beta phase and credit card tokenization functionality in the works.
Vijay Khubchandani, Founder and CEO, Seven, said, “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.”
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.”
