New Delhi, 18 June 2025 – Venture Catalysts, India’s pioneering early-stage investor and integrated incubator, has led a ₹4 crore Pre-Series A funding round in Seven, a Mumbai-based fintech startup behind India’s first indigenous contactless smart payment ring—7 Ring. The round also saw participation from existing investor Vinners (a SEBI-registered Category I AIF) and Anchorage Capital Partners, backed by the Sheth family office (promoters of The Great Eastern Shipping Company).
This strategic investment underscores Venture Catalysts’ continued commitment to backing disruptive innovations in India’s booming digital payments sector, which is projected to hit ₹577 trillion by FY29.
Reimagining Payments Through Wearable Innovation
The funds will enable Seven to scale production of its flagship 7 Ring—a RuPay and MasterCard-certified, NFC-enabled wearable that allows users to make secure tap-to-pay transactions without charging, PINs, or even smartphones. Integrated with a prepaid wallet powered by UPI, the device offers a seamless payment experience.
Capital from this round will also fuel the launch of 7 Ring Air, a more affordable variant slated for release in Q2 FY26, and drive Seven’s market expansion across metro transit systems and e-commerce platforms like Amazon and Flipkart.
“Seven’s fusion of style and smart payments echoes India’s transition to digital-first transactions,” said Dr. Apoorva Ranjan Sharma, Co-founder, Venture Catalysts. “By eliminating barriers like charging and smartphone dependence, the 7 Ring empowers millions—from metro commuters to kirana store owners—to experience frictionless payments. We believe this is frugal engineering at its finest, with the potential for global relevance.”
Engineering a Contactless Future for a Billion-Plus Users
Featured on Shark Tank India, the 7 Ring addresses major gaps in everyday payment infrastructure. Built with IP68-rated zirconia ceramic for long-term durability, it supports multiple monetization models via interchange fees from POS (1.08%) and metro transactions (0.40%).
Already beta-testing National Common Mobility Card (NCMC) support and developing credit card tokenization features, Seven is positioned to ride India’s 42% CAGR digital payments growth curve.
Co-founders Vijay Khubchandani, Mahek Savla, and Karthik Menon combine deep expertise in embedded systems and fintech architecture, bringing both technical rigor and market agility to the company’s roadmap.
“This funding unlocks our ability to deploy 3 million rings by 2028,” said Vijay Khubchandani, Founder & CEO of Seven. “With Venture Catalysts’ mentorship and our investors’ strategic backing, we aim to transform every metro gate and neighborhood shop into a contactless payment point.”
Backing Fintech with Purpose and Precision
Venture Catalysts—recognized as India’s Top Early-Stage Investor (2024) by The Kredible—has invested in over 300 startups and syndicated $700M+, fueling unicorns like BharatPe. Its investment in Seven reinforces its commitment to next-gen fintech solutions that align with the country’s digital economy blueprint.
This partnership positions Seven at the forefront of India’s wearable-led payment revolution, with an offering that blends hardware resilience, seamless UPI integration, and metro system compatibility—all designed to elevate the way a billion Indians transact daily.
