‘You see…’ You see… Shark Aman Gupta warns startup founders Smart ring to make payments in Shark Tank India

In the field of payment technology, Mumbai-based startup Seven Ring captures the attention of investors in the fourth season of Shark Tank India. The startup, founded by Vii Vis v Wedeweini, Mekak Savala, and Katik Mena, has developed a smart ring that allows users to pay continuously without the need for bills, cards or smartphones.

The ring works on UNI Lite, eliminating the need to connect to a bank account. Instead, it connects with users that encourage them to easily complete transactions by touching their closed hands. Amazingly, the ring does not need charging and can work like a metro card.

During the shaka, shark anupam mitital mentioned that there is a boat competing in the area. In response, Vay has come back to say that there is enough room in the market for many players. When Aman Gifata was asked about this, he was aware of the health rings, but it was the first time he heard about the payments.

“Vijia, pick up the pace; we’ll meet you in the market,” he said to Vii. Earlier, when he came to Aman and saw the start, he commented that “children come and go.”

The rapid development of technology, Viai Kubchanii, has predicted a future in which modern rings can change payment methods. After seven dedicated years, Seven Ring is ready to disrupt the payment landscape.

The company offers three variants of the smart ring translated in India. The rings are equipped with receiver technology and use an antenna that works on specific frequencies with major payment networks such as Mastercard, Rupay and Visa.

Price and features

Smart rings are priced at ₹ 1,500, ₹ 4,500, and ₹ 27,000, with premium models made of 18 carat gold. Users are eligible for cashback on transactions made with the ring. Using NFC technology, the ring generates energy through electromagnetic fields, ensuring a seamless payment experience.

Money and future plans

In the year Since its inception in 2017, Seven Ring has successfully raised funds on several occasions, totaling ₹ 2.24 crore. Founders plan to sell 30 lakh rings in next three years for 1% equity ₹ 75 lakh ₹ 75 lakh During the group, three sharks for 35 LAKE at 3% Equity and 1.5% when paying equity The sharks were advancing on the product’s potential.