Venture Catalysts leads Rs 4 Cr Pre-series A round in payment ring startup Seven
In its pre-Series A round, which was led by Venture Catalysts, Mumbai-based fintech startup Seven, the creator of the 7 Ring contactless payment smart ring, has raised Rs 4 crore.
Existing investors Vinners and Anchorage Capital Partners, supported by the Sheth family office, also participated in the round.
The money raised will be utilized to increase production of the flagship 7 Ring, introduce the 7 Ring Air, a less expensive version, by Q2 of FY26, and broaden distribution via metro stations and online retailers like Amazon and Flipkart.
Seven, a wearable fintech company founded by Vijay Khubchandani, Mahek Savla, and Karthik Menon, provides safe tap-and-pay transactions through NFC without requiring smartphones, PINs, or charging.
With an IP68-certified zirconia ceramic construction, the RuPay and MasterCard-certified gadget connects to a UPI-powered prepaid wallet. Seven has started beta testing NCMC compatibility and is working on credit card tokenization. The company makes money from POS and metro interchange fees.
After gaining early exposure on Shark Tank India, the company now plans to roll out 30 lakh rings by 2028, focusing on UPI users and daily metro commuters.
