TLDR:
– Indian health tech firm Ultrahuman raised $35 million in equity and debt investment for further growth
– The funding will go towards building manufacturing capacity and research in health tracking
India’s Ultrahuman has announced a $35 million equity and debt investment round from venture capital firms Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave, and Zomato founder Deepinder Goyal. The funding will be used to expand manufacturing capacity and conduct deeper research in the health tracking space. Ultrahuman aims to surpass $100 million in annualized revenue run rate by the end of 2024 while remaining profitable.
The company has seen significant growth over the past year, becoming the second-largest player in the smart ring market and expanding into over 150 retail outlets worldwide. Ultrahuman’s product suite includes a smart ring called Ring Air, a continuous glucose monitoring wearable called M1 Live, a home health device called Ultrahuman Home, and a preventive blood testing product called Blood Vision. The firm’s platform integrates glucose, sleep, movement, blood markers, and HRV for comprehensive health monitoring.
Ultrahuman’s dedication to scientific validation and innovation is exemplified by its completion of a clinical trial involving 105 participants to validate the ‘Metabolic Score’ generated on the platform. The company’s focus on improving user experience through continuous firmware and software updates, as well as its ability to rapidly iterate in hardware design, sets it apart in the market.
