Ultrahuman Raises Rs 290 Crore To Expand Fitness Tracking Devices Research, Manufacturing
Ultrahuman, a wearable tech firm, has raised Rs 290 crore in an investment round led by venture capital firms and Deepinder Goyal, the founder of Zomato.
Wearable tech firm Ultrahuman on Wednesday said it has raised $35 million (about Rs 290 crore) in equity and debt investment round.
The funding round saw participation from venture capital firms Blume Ventures, Steadview Capital, Nexus Venture Partners, and Zomato founder Deepinder Goyal, the company said in a statement.
"This funding round marks a pivotal step forward in our journey to dominate the smart rings space, bringing us closer to our goal of being the market leader," Ultrahuman Co-Founder Mohit Kumar said.
Ultrahuman will deploy the funds towards building further manufacturing capacity and deeper research in the health tracking space, the statement said.
The company provides a multi-device health ecosystem. It offers smart ring, Ring Air and provides a product suite comprising glucose monitoring wearable called M1 Live, a home health device called Ultrahuman Home and a preventive blood testing product called Blood Vision.
The Bengaluru-based company sells through more than 150 retail outlets worldwide, including at locations like London's Selfridges on Oxford Street, Changi Airport in Singapore, and Virgin Megastore in Dubai.
"Our long-term investment in R&D and intellectual property is a cornerstone of our strategy, ensuring that our products not only meet but exceed the highest standards of efficacy and reliability," Kumar said.
