In a significant development for the wearables market, New Delhi-based startup Ultrahuman has announced the successful closure of its Series B funding round, raising an impressive $35 million. The infusion of capital is poised to propel Ultrahuman’s growth trajectory and accelerate its research efforts in the realm of health monitoring technology.
Funding Round Participants: Venture capital heavyweights including Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave, and Zomato founder Deepinder Goyal have participated in this Series B funding round. Their collective support underscores the investor community’s confidence in Ultrahuman’s vision and potential to revolutionize the health monitoring space.
Ultrahuman’s Product Portfolio: Ultrahuman’s product suite encompasses an array of innovative wearables designed to empower users in monitoring their health and well-being. Among its flagship offerings are:
- M1 Live: A continuous glucose monitoring wearable catering to individuals seeking real-time insights into their glucose levels.
- Ring Air: A smart ring offering seamless integration of health metrics such as sleep patterns, movement, and heart rate variability (HRV).
- Ultrahuman Home: A home health device designed to provide users with comprehensive health monitoring capabilities within the comfort of their homes.
- Blood Vision: A preventive blood testing product aimed at enabling early detection of potential health issues.
Integration of Health Metrics: One of Ultrahuman’s key strengths lies in its platform’s ability to seamlessly integrate a wide range of health metrics, including glucose levels, sleep patterns, movement, blood markers, and HRV. This holistic approach to health monitoring empowers users with comprehensive insights, enabling them to make informed decisions about their well-being.
Remarkable Growth and Market Penetration: Over the past 12 months, Ultrahuman has witnessed remarkable growth, emerging as the second-largest player in the smart ring market while maintaining profitability. The company’s expansion efforts have seen it establish a presence in over 150 retail outlets worldwide, including prestigious locations such as London’s Selfridges, Changi Airport in Singapore, and the Virgin megastore in Dubai.
Future Outlook and Revenue Projections: With a strong foundation of profitability and rapid market expansion, Ultrahuman is poised for continued success. The company aims to surpass $100 million in annualized revenue run rate (ARR) by the end of 2024, a testament to its robust growth trajectory and market potential. Additionally, Ultrahuman’s ability to make long-term manufacturing investments underscores its commitment to driving innovation and excellence in the wearables landscape.
Ultrahuman’s successful Series B funding round signifies a significant milestone in its journey to redefine health monitoring through cutting-edge wearables technology. With a stellar lineup of products, a global footprint, and strong investor backing, Ultrahuman is well-positioned to lead the wearables revolution and empower individuals worldwide to take control of their health and well-being.