In a world where convenience is key, 7 Ring is leading the way with India’s first open-loop contactless payment wearable ring, certified by RuPay. Offering a fast, secure, and hassle-free way to make offline payments, 7 Ring is setting a new standard for wearable payment solutions. 7 Ring Shark Tank India Season 4 innovative pitch earned them an exceptional investment deal. Here’s an in-depth look at 7 Ring’s groundbreaking product, their Shark Tank experience, and their plans for the future.
Know about 7 Ring
7 Ring is a revolutionary wearable technology designed to make payments seamless and secure. Key features of the 7 Ring payment wearable include:
- Open-Loop Functionality: Works across all payment networks supported by RuPay.
- Contactless Convenience: Enables users to make payments by simply tapping their ring on a payment terminal.
- Security: Provides the fastest and safest offline payment option.
The wearable is designed to blend style with practicality, ensuring users don’t have to compromise on fashion or function.
You can also check the Vibrasense Shark Tank India Season 4 pitch.
7 Ring Pitch Shark Tank India Season 4 Pitch
On Shark Tank India Season 4, the founders of 7 Ring presented their vision for revolutionizing payment systems with wearable technology. They highlighted the growing demand for contactless payment solutions and showcased the unique capabilities of their product. The Sharks were impressed by 7 Ring’s innovative approach and potential to disrupt the payments industry.
Investment Details
| Company | 7 Ring |
| Founders | Vijay Khubchandani |
| Website | https://seven.ooo/ |
| Season | Shark Tank India Season 4 |
| Original Ask | ₹ 75 Lakhs for 1% Equity at a ₹75 Crore Valuation |
| Investment Secured | Yes |
| Deal | ₹ 75 Lakhs for 1.5% Equity + 1.5% Advisory Equity |
| Investors | Peyush Bansal, Vineeta Singh and Varun Dua |
7 Ring Winning Moment
Peyush Bansal, Vineeta Singh, and Varun Dua recognized the immense potential of 7 Ring’s wearable payment technology. Their combined investment of ₹ 75 Lakhs for 1.5% equity, along with 1.5% advisory equity, brings not only financial backing but also valuable mentorship to scale the business. The deal signifies a major milestone for 7 Ring as they gear up to expand their reach.
Why 7 Ring Stands Out
- Pioneering Technology: As India’s first RuPay-certified open-loop wearable ring, 7 Ring is ahead of the curve in contactless payment innovation.
- Convenience and Speed: Eliminates the need for physical cards or cash, offering a frictionless payment experience.
- Enhanced Security: Designed with robust security features to protect users financial data.
FAQs
7 Ring offers India’s first RuPay-certified open-loop contactless payment wearable ring.
Peyush Bansal, Vineeta Singh, and Varun Dua invested ₹ 75 Lakhs for 1.5% equity and 1.5% advisory equity during Shark Tank India Season 4.
The founders initially asked for ₹ 75 Lakhs in exchange for 1% equity at a valuation of ₹75 Crore.
7 Ring stands out for its pioneering wearable technology, offering secure, fast, and contactless offline payments.