Wearable Tech Startup Ultrahuman Raises USD 35 Mn in Series B from Blume Ventures, Steadview Capital and Others The Bengaluru-based health monitoring device maker will allocate the funds to enhance manufacturing capacity and deeper research in the health tracking space.
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Wearable healthtech startup Ultrahuman has announced the raising of USD 35 million (equity and debt) in Series B round from venture capital firms Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave Incubation and Zomato founder Deepinder Goyal.
As per the official release, the startup will deploy the funds towards building further manufacturing capacity and deeper research in the health tracking space.
Mohit Kumar, Co-founder of Ultrahuman, said, "The future of health is integrated, and at Ultrahuman, we're making that future a reality today by seamlessly combining various health data streams to empower preventative health and wellness. Our vision of being the top player in terms of both active devices and geographic presence is within reach."
Founded in 2021 by Kumar and Vatsal Singhal, Ultrahuman manufactures a range of health tracking and monitoring products, such as fitness rings. Ring Air, M1 Live, Ultrahuman Home, and Blood Vision are among its product offerings.
The platform claims to integrate glucose, sleep, movement, blood markers, and HRV, offering a comprehensive approach to health monitoring.
With its global expansion, Ultrahuman now has over 150 retail locations, including the Virgin Megastore in Dubai, Changi Airport in Singapore, and Selfridges in London.
"Shipping a new firmware version every two weeks and weekly app improvements reflect our commitment to excellence and our speed of execution, our biggest competitive advantage. We've also iterated in hardware at the speed of software by designing novel devices like Ultrahuman Home, a home health monitor," Mohit added.
The startup claims that it has completed a clinical trial with 105 participants to validate the 'Metabolic Score' generated on its platform.
With UltraFactory, its new manufacturing facility, it hopes to generate USD 200 million in revenue annually. By the end of 2024, it expects to have an annualised revenue run rate (ARR) of over USD 100 million.
