7 Ring on Shark Tank India Season 4: Digital Payments with Wearable Technology

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Mumbai-based 7 Ring emerged as a groundbreaking innovation in the digital payment ecosystem, presenting a unique wearable technology that transforms how we think about financial transactions. Founded in 2017, the startup offers a revolutionary digital wallet that can be worn directly on your finger.

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Quick Facts About 7 Ring

Company Name7 Ring
FoundersVijay Khubchandani, Karthik Menon, Mahek P Savla
Founded2017
LocationMumbai, India
IndustryConsumer Electronics
Asked Investment₹75 Lakhs for 1% equity
Asked Valuation₹75 Crores
Final Deal₹75 Lakhs for 1.5% equity + 1.5% advisory equity
Final Valuation₹50 Crores
Investing SharksPeyush Bansal, Varun Dua, Vineeta Singh

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The Shark Tank India Pitch

The founders presented their vision to the panel of sharks:

  • Peyush Bansal
  • Anupam Mittal
  • Aman Gupta
  • Vineeta Singh
  • Varun Dua

They sought ₹75 Lakhs for 1% equity, valuing the company at ₹75 Crores.

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Shark Tank Deal Dynamics

The founders secured a compelling deal:

  • Investment: ₹75 Lakhs
  • Equity: 1.5% direct equity
  • Advisory Equity: 1.5%
  • Valuation: ₹50 Crores
  • Investors: Peyush Bansal, Varun Dua, Vineeta Singh

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About 7 Ring: Redefining Digital Payments

7 Ring stands out through its innovative features:

  • Finger-worn digital wallet
  • Seamless body integration
  • No charging required
  • Patented Indian design
  • Secure transaction platform
  • Non-intrusive wearable technology
  • Independent transaction tracking

Technology and Innovation

Key technological characteristics of 7 Ring include:

  1. Unique Design Features
  • Comfortable finger-worn device
  • Seamless body integration
  • No separate charging required
  • Lightweight and ergonomic

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  1. Payment Security
  • Independent transaction tracking
  • Not linked to bank accounts
  • More secure than traditional cards
  • Advanced encryption technologies
  1. User Experience
  • Instant payment capabilities
  • Passbook for transaction history
  • Minimal user interaction
  • Intuitive interface

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Target Market and User Segments

7 Ring primarily serves:

  • Tech-savvy consumers
  • Early technology adopters
  • Digital payment enthusiasts
  • Security-conscious individuals
  • Urban professionals
  • Young digital natives

Market Opportunity

Potential growth areas for 7 Ring:

  • Expanding product line
  • International market penetration
  • Corporate partnership programs
  • Enhanced security features
  • Integration with digital ecosystems

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Technological Edge and Competitive Landscape

Competitive advantages:

  • Patented Indian design
  • Unique wearable concept
  • Focus on user experience
  • Advanced security protocols
  • Innovative payment solution

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Challenges and Future Roadmap

Potential focus areas:

  • Regulatory compliance
  • Technology scalability
  • User education
  • Building consumer trust
  • Continuous innovation

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Conclusion

7 Ring represents a paradigm shift in digital payment technologies. By transforming a simple ring into a sophisticated payment device, the startup demonstrates how innovative design can reimagine everyday financial interactions.

Stay tuned for more exciting pitches and business innovations in upcoming episodes of Shark Tank India Season 4.

FAQs

When was 7 Ring founded?

2017

Who are the founders of 7 Ring?

Vijay Khubchandani, Karthik Menon, Mahek P Savla

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