Ultrahuman raised $70 million to build a smart ring that runs software on the device. The Indian startup is best known for sleep and health tracking rings. Qualcomm Ventures joined the round alongside Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners and Alteria Capital. Ultrahuman is working with Qualcomm on a ring using its chips, while keeping Nordic Semiconductor silicon too. Founder Mohit Kumar says more computing on the ring cuts reliance on a phone or cloud. Some features reach existing Ring Air and Ring Pro by end of September, including game control and AI interaction. Third-party developers will be able to build features. Kumar says the company may not be profitable this year and sees 2028 as the earliest listing window. The valuation figure comes from a person familiar with the matter.
What changed
Ultrahuman rings acted as trackers, relying on a phone or the cloud.
What it unlocks
Running programs on the ring itself, including game control and AI interaction.
- $70M round: $65M equity, $5M debt
- $365M valuation, 3x 2023
- $140M revenue run rate, up 45%
- ~800,000 rings sold
What you need to act on it
- an Ultrahuman Ring Air or Ring Pro
- the software update due by end of September
Sources