Venture Catalysts Leads INR 4 Crore Pre-Series A Investment in Seven to Revolutionize India’s Wearable Fintech Ecosystem

Venture Catalysts, India’s premier early-stage investor and integrated incubator, led an INR 4 Crore Pre-Series A funding round in Seven, the Mumbai-based fintech startup behind India’s first indigenous contactless payment smart ring, 7 Ring, which was featured on Sharktank. The investment round 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. This strategic move reinforces Venture Catalysts’ commitment to fostering cutting-edge innovations in India’s rapidly expanding digital payments market, projected to reach INR 577 trillion by FY29.

Venture Catalysts’ investment will empower Seven 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.

Commenting on the investment, 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.”

The 7 Ring, created by Seven, addresses critical gaps in India’s digital payments infrastructure, which processed 185.8 billion UPI transactions in FY25. 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. With National Common Mobility Card (NCMC) compatibility rolled out in beta phase and credit card tokenization functionality in the works, Seven is poised to capitalize on India’s 42% CAGR growth in digital payments. Co-founders of Seven, Vijay Khubchandani, Mahek Savla, and Karthik Menon, bring over a rich combined expertise in fintech and embedded systems.

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.”

Venture Catalysts, named 2024’s Top Early-Stage Investor by The Kredible, has syndicated over $700 million across 300+ startups, including unicorns like BharatPe. The recent investment in Seven is an extension of the firm’s leadership in identifying and scaling transformative fintech innovations that align with India’s digital economy goals. The investment will help Seven position itself at the forefront of India’s contactless payment revolution, propelling the company’s unique blend of hardware durability, UPI integration, and metro payment capabilities to drive nationwide adoption.