Ultrahuman raises Rs 100 Cr venture debt for global expansion
Wearables player Ultrahuman expects to cross Rs 1,000 crore in FY26 revenue while navigating a US patent dispute and scaling new product categories.
Bengaluru-based Ultrahuman on Thursday said it has raised Rs 100 crore in venture debt from Alteria Capital to fuel its expansion in Canada, Mexico and Australian markets.
The company said the debt raise is a precursor to a larger funding round it expects to close in the coming weeks. The expansion comes as it navigates a patent dispute with Oura in the US involving its ring category.
The company said the case does not affect its other product lines, including its sleep monitor, CGM and fast-growing blood testing business, which together still account for a minority share in total revenue. Blood testing, which currently accounts for just 5% of its revenue, has become its second fastest-growing category across India, the US and the UAE and is expected to reach about 20% in the coming quarters.
It added that existing ring inventory in the US should prevent any impact on FY26 revenue and that it is developing a new model with improved features, which it expects to dominate once the transition phase is over.
"We're not restricted to a ring form factor. We don't just want to be sticking to the wellness layer, but also want to deliver stronger, clearer healthcare outcomes for people. And for that to happen, it's hard to just do one form factor because the form factor preference across different channels of healthcare might be very, very different," Mohit Kumar, CEO, Ultrahuman, told YourStory.
The company expects to cross Rs 1,000 crore in revenue this financial year; however, it expects to see its bottom line comparable to last year on account of heavy investment in new market expansion.
“With growing affluence, there is a sharper focus on measurement and optimisation of health, and this is a massive global market. Mohit and his team have shown that passion, attention to detail, and refined engineering can lead to successful outcomes even in difficult markets across the developed world,” said Vinod Murali, Managing Partner and Cofounder of Alteria, in a press note.
Edited by Jyoti Narayan