Ultrahuman, a wearables startup, secures $35 million in funding to drive expansion efforts

Homegrown wearables startup Ultrahuman has secured $35 million in a series B funding round to advance growth and research in health monitoring. Investors include Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave, and Zomato founder Deepinder Goyal. Ultrahuman’s product suite comprises innovative wearables like M1 Live, Ring Air, Ultrahuman Home, and Blood Vision, offering a comprehensive health monitoring approach.

Co-founder Mohit Kumar expressed, “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.” Ultrahuman has experienced substantial growth in the past year, becoming the second-largest player in the smart ring market while remaining profitable. The company’s platform integrates glucose, sleep, movement, blood markers, and HRV for a holistic health monitoring solution.

With expansion into over 150 retail outlets worldwide, Ultrahuman has set its sights on surpassing $100 million in annualized revenue run rate by the end of 2024. Co-founder Kumar emphasized, “Our vision of being the top player in terms of both active devices and geographic presence is within reach, thanks to our rapid expansion and the love we’ve received from our users.” The company’s ability to make long-term manufacturing investments, supported by profitability, sets it apart in the smart rings market.

The funding round participation from prominent venture capital firms and industry experts underscores Ultrahuman’s position as a key player in the wearable technology sector. The company’s commitment to innovation and user satisfaction has driven its success and strategic expansion into major global retail outlets like Selfridges in London, Changi Airport in Singapore, and the Virgin megastore in Dubai. Ultrahuman’s dedication to advancing health monitoring through cutting-edge wearables continues to position it as a leader in the industry.