NEW DELHI: Homegrown wearables startup Ultrahuman on Wednesday introduced that it raised $35 million in a collection B funding spherical to speed up development and analysis within the well being monitoring area.
The spherical noticed participation from enterprise capital companies Blume Ventures, Steadview Capital, Nexus Enterprise Companions, Alpha Wave and Zomato founder Deepinder Goyal.
“This funding spherical marks a pivotal step ahead in our journey to dominate the sensible rings area, bringing us nearer to our objective of being the market chief,” Mohit Kumar, co-founder of Ultrahuman, mentioned in a press release.
The Ultrahuman product suite features a steady glucose monitoring wearable referred to as M1 Dwell, a wise ring referred to as Ring Air, a house well being gadget referred to as Ultrahuman Residence and a preventive blood testing product referred to as Blood Imaginative and prescient.
Their platform integrates glucose, sleep, motion, blood markers, and HRV, providing a complete method to well being monitoring.
The corporate mentioned that Ultrahuman has seen exceptional development over the previous 12 months, changing into the second-largest participant within the sensible ring market whereas sustaining profitability.
“Our imaginative and prescient of being the highest participant by way of each lively units and geographic presence is inside attain, due to our fast growth and the love we have acquired from our customers,” mentioned Kumar.
The corporate expanded into over 150 shops worldwide, together with areas like — London’s Selfridges on Oxford Avenue, Changi Airport in Singapore, and the Virgin megastore in Dubai.
Furthermore, the corporate talked about that it’s on observe to surpass $100 million in annualised income run charge (ARR) by the tip of 2024.
“Our skill to make long-term manufacturing investments, supported by our profitability, is exclusive within the sensible rings market,” the co-founder famous.
