Founded by Vijay Vasudeo Khubchandani, Mehek Savla, and Karthik Menon, 7 Ring is a wearable NFC-enabled smart ring designed to simplify payments and add convenience

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It has patented three variants of its ring, catering to a wide range of users. The rings are Made in India, though the raw materials are sourced internationally

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7 Ring doesn’t require charging or pairing with a smartphone. It operates using electromagnetic fields, ensuring effortless tap-and-pay functionality

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Key Features of 7 Ring: Tap-and-Pay Functionality, Customised Variants, Additional Applications

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With persistence, the team raised multiple smaller rounds, including ₹50 Lakhs in 2018 and ₹65 Lakhs in 2020

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Financial Performance: 2023-24 Revenue: ₹61 Lakhs. 2024-25 Targets: Earned ₹26 Lakhs in Q1, ₹35 Lakhs in Q2, with plans to sell 30 lakh rings in 3 years

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Ownership Breakdown: Vijay Vasudeo Khubchandani: Holds 48% equity. Mehek Savla: Holds 15%. Karthik Menon: Holds 17%

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The founders entered Shark Tank India Season 4, seeking ₹75 Lakhs for 1% equity, valuing their company at ₹75 Crores

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Founders accepted joint offer from Sharks Vinita, Varun, and Piyush, investing ₹75 Lakhs for 3% equity, split as 1.5% direct equity and 1.5% advisory equity

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Opportunities and plans for 7 Ring: Mass Adoption, Diverse Applications, Global Expansion

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