Indian wearables startup raises $35m to help users track metabolic health

Photo credit: Ultrahuman

As India grapples with public health issues, including World Health Organization estimates of 77 million adults with Type 2 diabetes, its healthtech market is on the rise. Some startups focus on health monitoring, such as diabetes-focused Sugarfit.

Another player is Ultrahuman, which sells wearable devices and services to help users track metabolic health. It is known for the Ultrahuman Ring Air, which tracks heart rate, heart rate variability, and blood oxygen saturation, among other indicators.

The company has raised a series B round of US$35 million in a mix of equity and debt. Participants include VC firms like Blume Ventures, Steadview Capital, and Nexus Venture Partners, as well as Zomato founder Deepinder Goyal.

Ultrahuman’s platform integrates data from its different devices, enabling users to monitor multiple health metrics simultaneously. While headquartered in India, the company’s products are available at over 150 stores worldwide – including one at Singapore’s Changi Airport.

The company expects to surpass US$100 million in annualized revenue run rate by the end of 2024. It said that it is profitable, though it did not disclose specifics.

“Our relentless focus on improving user experience through continuous firmware and software updates is what sets us apart,” said Ultrahuman co-founder Mohit Kumar. He added that the company ships a new firmware version every two weeks, along with weekly app improvements.

Founders Kumar and Vatsal Singhal previously established ecommerce logistics startup Runnr, which was acquired by Zomato in 2017.

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