Ultrahuman raised $70m to turn its ring into a computer
Ultrahuman has raised $70m, and the pitch it made to get the money is not a better sleep score. The Indian company wants its smart ring to stop being a tracker and start running software.
TechCrunch’s Jagmeet Singh reported the round first, with an interview with founder and chief executive Mohit Kumar. It is $65m in equity and $5m in debt. Qualcomm Ventures took part. So did the diagnostics group Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners and Alteria Capital. A person familiar with the terms told the outlet it values Bengaluru-based Ultrahuman at $365m, roughly three times its 2023 mark.
Qualcomm Ventures is the name that matters. It has backed hardware that went on to define a category before, including Ring and Fitbit. It is not buying a sleep tracker here.
The plan is a ring that runs its own code
Ultrahuman is building a new ring...
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