Ultrahuman Raises $70 Million in Funding Round at $365 Million Valuation

Wearable technology startup Ultrahuman has officially announced the completion of a major $70 million funding round, elevating the Bengaluru, India-based company to a valuation of $365 million. This substantial financial milestone follows a previous valuation of $120 million achieved in 2023, reflecting rapid growth in the global smart ring market. According to details shared with TechCrunch by journalist Jagmeet Singh on September 3, 2026, the newly secured financing structure comprises $65 million in primary equity alongside an additional $5 million in debt.

The high-profile funding round attracted significant backing from a diverse group of investors, featuring participants such as Qualcomm Ventures, Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners, and Alteria Capital. As part of this strategic momentum, Ultrahuman is actively collaborating with Qualcomm on the development of a brand-new ring leveraging advanced Qualcomm silicon, while also maintaining its ongoing manufacturing relationship with Nordic Semiconductor chips.

Ultrahuman was originally established in 2019 by co-founders Mohit Kumar and Vatsal Singhal, who have since scaled the business into a formidable competitor in the health-tracking sector against rivals like Oura. Co-founder Mohit Kumar highlighted the unique philosophy driving their hardware development, noting during discussions about current market standards that current devices merely record basic metrics. Specifically, Kumar observed, 'All ring devices today are like trackers. You put on the ring, it measures your heart rate, your movement, your sleep.'

Expanding on the technological vision of their platform, Kumar compared the interactive nature of their wearable hardware to everyday electronics, pointing out that 'A game controller never reads your heart rate and your temperature, but this one does.' Furthermore, Quinn Li of Qualcomm Ventures emphasized the broader technological integration driving their investment rationale, stating that 'The future of AI is personal, ambient, and always on.'

The company's commercial expansion is firmly underpinned by impressive financial and sales metrics. Ultrahuman currently operates with a $140 million annual revenue run rate, with expectations to scale this figure up to a $200 million annual revenue run rate by January 2027. To date, the startup has successfully sold 800,000 rings, having achieved a massive milestone of 700,000 rings sold specifically in February.

Market demand for the product has drastically outstripped current inventory, particularly in North America, where the company faces an 18x to 20x available supply demand in the U.S. Geographically, the United States now accounts for 45% of total revenue this quarter, while the Indian domestic market represents 11% of quarterly revenue. Additionally, the startup boasts a steady software monetization model, with 12% of active users consistently paying for specialized PowerPlugs features.