Qualcomm backs Ultrahuman in $70M round on bet to turn smart rings into computers
Ultrahuman, an Indian startup best known for making smart rings, has raised $70 million in a new funding round that includes backing from Qualcomm’s venture arm, as it looks beyond sleep and health tracking to build a ring that can run software on the device and eventually power everything from AI interactions to games.
The round values Bengaluru-based Ultrahuman at $365 million, about three times its $120 million valuation in 2023, a person familiar with the matter told TechCrunch.
Qualcomm Ventures participated in the financing alongside U.S. diagnostics giant Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners, and Alteria Capital. The round includes $65 million in primary equity and $5 million in debt, Ultrahuman founder and CEO Mohit Kumar said in an interview.
Ultrahuman is also working with Qualcomm on a new ring that will use the U.S. chipmaker’s silicon, replacing the Nordic Semiconductor chip it currently uses, Kumar...
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