Ultrahuman, the fitness-focused wearable tech startup, snaps $35Mn in Series B
Ultrahuman, the Bengaluru-based wearable tech startup focused on health monitoring, has secured $35 million in a Series B round, in order to fuel its expansion and research efforts.
The round attracted participation from Blume Ventures, Steadview Capital, and Nexus Venture Partners. Notably, the round also included investments from Alpha Wave Incubation and Zomato founder Deepinder Goyal. Co-founder Mohit Kumar expressed his enthusiasm about the funding round as well. “This funding round marks a pivotal step forward in our journey to dominate the smart rings space, bringing us closer to our goal of being the market leader,” Kumar said in an official statement.
Ultrahuman plans to strategically allocate the fresh capital towards two key areas: bolstering its manufacturing capabilities, as well as investing in deeper research initiatives within the health tracking domain. Overall, the firm has raised over $60 million via funding rounds so far.
Five-year-old Ultrahuman – founded by Kumar Kumar and Vatsal Singhal – offers a comprehensive suite of health monitoring products that cater to various user needs. Beyond their flagship Ring Air smart ring, which tracks sleep, movement, and recovery, Ultrahuman provides the M1 Live, a continuous glucose monitoring wearable. This allows users to gain valuable insights into their blood sugar levels. Additionally, the company offers the Ultrahuman Home, a home health device, and Blood Vision, a preventive blood testing product. Apart from this, the company allows users to track a wider range of health metrics by integrating data from these various sources, including glucose, sleep, movement, blood markers, and HRV (heart rate variability).
Alongside this, the company also aims to increase its manufacturing capacity to keep up with the growing demand for its products. The company aims to increase production capacity for its flagship product, the Ultrahuman Ring AIR smart ring, from 15,000 to 100,000 units per month by the end of FY26. “Our ability to make long-term manufacturing investments, supported by our profitability, is unique in the smart rings market,” Kumar said.
Ultrahuman’s focus on strategic retail expansion has proven instrumental in bringing its technology to a wider audience. The company has established a presence in over 150 retail outlets across the globe, and has grown steadily over the past 12 months (it maintains that it became the second-largest player in the smart ring market during the period). Today, Ultrahuman’s wearables are readily available in locations frequented by their target audience, including London’s Selfridges, Singapore’s Changi Airport, and Dubai’s Virgin megastore. This expansion has undoubtedly contributed to Ultrahuman’s projected achievement of surpassing a $100 million annualized revenue run rate (ARR) by the end of the year.
