Ultrahuman is a wearable tech startup that has raised $35 million in a series-B round led by Deepinder  Goyal. The debt and equity round had the participation of both new and existing investors of startups including Blume Ventures, Nexus VP, Steadview Capital, and Alpha Wave.  

The board has approved a resolution to allot 6,979 series B CCPS at an issue price of Rs 3,00,170 each to raise $35 million. Deepinder Goyal, who is a co-founder of Zomato led the series-B round with an investment of Rs 83 crore. The series-B round consisted of $25 million equity and $10 million debt. At  present, Ultraman has raised more than $60 million including $17.5 million in Series A and $35 million  in Series B round. TheKredible predicted the startup’s post-valuation to be more than $125 million. The startup is aiming to build a comprehensive suite of products to help its customers. 

Image source: ultahuman.com 

The startup offers a self-quantification platform that provides a glucose monitoring wearable M1 Live, a smart ring called Ring Air, and a blood testing product, among others. The funding amount raised  from the series-b round will be used to scale up, increase manufacturing capacity, expand the market,  and enhance research in the health-tracking space. The company faced an overall revenue increase of four times to Rs 30 crore. As a part of a new operating model, the company also faced a loss increased  by 21.4% to Rs 71 crore in the same period.  

The expansion of the startup will translate into a revenue run rate of $20 million a month by FY26. The  startup will launch its new products including blood testing devices, continuous glucose monitoring devices and software, and smart rings. This Bengaluru-based startup is also planning to launch a home based health monitoring product called the Ultrahuman Home. 

Conclusion: 

Ultrahuman is a Bengaluru-based wearable tech startup that has raised $35 million in its series B round  led by Deepinder Goyal with the participation of both new and existing investors including Nexus VP,  Blume Ventures, Steadview Capital, and Alpha Wave. The startup offers a platform that provides a  glucose monitoring wearable M1 Live, a smart ring called Ring Air, and a blood testing product, among  others. TheKredible predicted the startup’s post-valuation to be more than $125 million. The backing  amount raised from the Series-B round will be used to scale up, increase manufacturing capacity,  expand the market, and enhance research in the health-tracking space. The company will be using this  fund to accelerate its growth and expand in the wearable tech market across the country. The  expansion of the startup will translate into a revenue run rate of $20 million a month by FY26. The  startup will launch its new products including blood testing devices, continuous glucose monitoring devices and software, and smart rings. The company faced an overall revenue increase of four times  to Rs 30 crore and net loss increased by 21.4% to Rs 71 crore in the same period.