Ultrahuman, a smart ring maker, has raised $60 million (Rs 583 crore) in a Series C funding round led by Qualcomm Ventures, according to filings from the Registrar of Companies. The company issued 3,623 Series C and 3,832 Series C1 compulsory convertible preference shares at prices of Rs 7,79,500 and Rs 7,85,300 respectively to raise the funds in two tranches.
The funding round attracted investments from Alpha Wave, Laboratory Corporation of America (Labcorp), Blume Ventures, Deepinder Goyal, Steadview Capital, Nexus Venture Partners, GGM Family Trust, and Krypton Trust. Qualcomm Ventures invested about Rs 143 crore, Alpha Wave Rs 114 crore, Labcorp Rs 95 crore, and Deepinder Goyal Rs 47 crore. The remaining amount came from Blume Ventures, GGM Family Trust, Steadview Capital, and others, the filings showed.
Ultrahuman plans to use the capital to accelerate growth and market expansion. This funding comes as the company seeks to rebuild its presence in the US after a patent dispute with Finnish rival Oura, which filed a patent infringement lawsuit against Ultrahuman in 2024. The fresh capital aims to support Ultrahuman’s efforts to strengthen its position in the competitive wearable technology market.
The Series C round marks a critical step for Ultrahuman’s growth strategy, with the company aiming to leverage the new funds to expand its smart ring business globally. The regulatory filings confirm the allotment of shares and the participation of key investors, underscoring the confidence in Ultrahuman’s potential.