Wearables company combines smart ring, CGM, blood testing and home health monitoring devices to support preventative health and wellness.
Wearable health tech company Ultrahuman has secured a $35 million Series B equity and debt investment round to advance its growing portfolio of consumer health tracking products. The funding will be strategically allocated towards expanding the Indian company’s manufacturing capabilities and intensifying its research efforts.
Founded by Mohit Kumar and Vatsal Singhal, Ultrahuman is on a mission to create the world’s most comprehensive “self-quantification” platform. The duo previously co-founded Runnr, which later merged with India’s largest food delivery service Zomato.
The funding will bolster continued development of Ultrahuman’s range of consumer products, including the Ring Air smart ring, M1 Live continuous glucose monitoring wearable, Blood Vision preventive blood testing product, and a home health monitoring device called Ultrahuman Home.
The company’s multi-device ecosystem aims to provide a comprehensive approach to health monitoring, integrating key biomarkers such as glucose levels, sleep patterns, movement, blood markers, and heart rate variability (HRV) into a unified platform.
Last month, the Ultrahuman announced the completion of a clinical trial involving 105 participants, aimed at validating the ‘Metabolic Score’ generated on its platform.
“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,” said Mohit Kumar.
Ultrahuman claims it has experienced a robust growth trajectory over the past year, supported by the firm’s expansion into more than 150 retail outlets around the world. The company says it is poised to surpass $100 million in annualized revenue run rate (ARR) by the close of 2024, with future growth supported by the opening of its new UltraFactory, a state-of-the-art manufacturing facility capable of supporting $200 million in annual revenue.
“Our long-term investment in R&D and intellectual property is a cornerstone of our strategy, ensuring that our products not only meet but exceed the highest standards of efficacy and reliability,” said Kumar.
Investors in the round included Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave, and Zomato founder Deepinder Goyal.
