Ultrahuman, a leading innovator in the health tracking industry, has secured an impressive $35 million in a Series B funding round. This significant investment will help accomplish its ambitious expansion plans, with a focus on augmenting production capacity and enhancing research capabilities.
Mohit Kumar, Co-founder of Ultrahuman expressed “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, the Bengaluru-based Ultrahuman, manufactures multi-health tracking and monitoring devices, in addition to fitness rings. Its product portfolio encompass Ring Air, M1 Live, Ultrahuman Home, and Blood Vision.
According the firm, these devices integrate glucose, sleep, movement, blood markers, and heart rate variability, providing a comprehensive approach to health monitoring. The company claims it has completed a clinical trial with 105 participants to validate the ‘Metabolic Score’ generated on its platform.
“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.
Ultrahuman global expansion plans; New UltraFactory Fuels Growth
Ultrahuman has expanded its operations to over 150 retail locations world over, including Selfridges in London, Changi Airport in Singapore, and Virgin Megastore in Dubai. With its new manufacturing sites, UltraFactory, it expects to report an annual turnover of $200 million.
Ultrahuman furthermore stated that it will surpass $100 million in annualised revenue run rate (ARR) by the end of 2024. “Our ability to make long-term manufacturing investments, supported by our profitability, is unique in the smart rings market,” Kumar said.
The latest round of capital was raised from Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave Incubation, and Zomato Founder Deepinder Goyal. The startup plans
