The creative wearable gadget 7 Ring lets users make contactless payments without a phone or charging required. Certified by RuPay, the ring provides a basic, safe approach to perform offline payments and operates on an open-loop payment system. Designed for simplicity and to fit tech-savvy people who want a flawless, hands-free payment experience, it the device offers an easily available substitute for conventional wallets and cards, therefore supporting India’s efforts towards digital payment solutions. Modern consumers will find the ring a futuristic accessory since it is always available for use without charging needed.
Company Name: 7 Ring
Founder: Vijay Vasudeo Khubchandani, Mehek Savla, and Karthik Menon
Product: Payment Wearable Smart Ring
Highlights:
1. 7 Ring allows quick, safe, offline payments free from the requirement for a smartphone or internet connection.
2. Unlike certain smart devices, the ring is always available for use since it does not need to be charged.
3. RuPay Certified: RuPay guarantees fit with a broad spectrum of Indian payment systems by certifying it.
4. The ring’s payment method is open-loop, hence it does not depend on matching with a phone or any other setup.
5. Designed for modern, tech-savvy consumers who value simplicity and ease of transaction, the product is
6. The ring is a perfect and trendy approach to pay since it mixes fashion with utility.
7. Security: The ring guarantees users of safe transactions by using secure payment technologies.
Pitch Details
Ask: ₹75 lakhs for 1% Equity (Valuation: ₹75 crores)
Deal: After negotiations Vineeta Singh, Peyush Bansal and Varun Dua finished the deal at ₹75 Lakhs for 1.5% Equity and 1.5% Advisory.
Investors: The investment came from Vineeta SIngh, Peyush Bansal and Varun Dua.
Conclusion:
The 7 Ring Pitch on Shark Tank India Season 4 presented a novel payment industry offering combining innovation, security, and simplicity. Certified by RuPay, the contactless payment ring provides consumers with a flawless, hands-free method of making offline payments free from charge or smartphone need. Investors were drawn to its modern appearance and simplicity of use, which resulted in a ₹75 Lakhs investment in 1.5% shares. Supported by business leaders, 7 Ring presents a clever answer for the tech-savvy customer and is likely to transform daily transactions.
