Wearable tech startup Ultrahumanis raising Rs 583 crore (around $60 million) in its Series C round led by Qualcomm Ventures and with the participation of Alpha Wave, Laboratory Corporation of America Holdings, Deepinder Goyal, Blume Ventures, Nexus Venture Partners, Steadview Capital, GGM Family Trust, Krypton Fund, and others. The board at Ultrahuman has passed a special resolution to issue 3,623 Series C and 3832 Series C1 compulsorily convertible preference shares at an issue price of Rs 7,79,500 and Rs 7,85,300, respectively, to raise Rs 583 crore (approximately $60 million), according to its regulatory filings sourced from theRegistrar of Companies(RoC). Qualcomm Ventures will lead the round with an investment of Rs 143 crore, followed by Alpha Wave, which will invest Rs 114 crore. Laboratory Corporation of America Holdings will put in Rs 95 crore, while Blume Ventures will invest Rs 90 crore. Deepinder Goyal will invest Rs 47.4 crore, while Nexus Venture Partners and Krypton Fund will contribute Rs 18.9 crore and Rs 15 crore, respectively. The remaining amount will be invested by GGM Family Trust, Steadview Capital, InCred Wealth, Joy Bhakat and other investors. According toEntrackr’sestimates, the funding round values the company at around $363 million post-money, marking a 65% jump from its previousSeries B valuation. As per the filing, the company plans to use the fresh proceeds for growth, expansion, and other general corporate purposes. A July ET report also said that Ultrahuman is in talks to raise $60 million. It’s worth noting that Ultrahuman’s co-founders, Mohit Kumar and Vatsal Singhal, had earlier sold their first startup, Runnr, to Zomato in September 2017. Zomato later leveraged Runnr, which was merged with Mumbai-based TinyOwl, to strengthen its in-house delivery fleet. Ultrahuman operates a self-quantification platform and offers products such as the Ring Air smart ring, the M1 Live glucose monitoring wearable, and the Blood Vision blood testing platform, among others. Prior to this round, the company had raised more than $60 million, including a $35 million Series B round and a $17.5 million Series A round in October 2022. Ultrahuman reportedRs 565 crorein revenue and Rs 73 crore profit after tax in FY25, while it hasprojectedRs 1,000 crore in revenue for FY26. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
