Qualcomm Invests in Ultrahuman's $70M Funding Round for Smart Ring Innovation
Ultrahuman, an Indian startup known for its smart rings, has secured a $70 million funding round led by Qualcomm Ventures and other investors. The investment values the Bengaluru-based company at $365 million, up from $120 million in early 2023. Ultrahuman plans to use this capital to develop smarter ring devices that can run software locally rather than relying on a phone or cloud services. The new rings will utilize Qualcomm’s silicon instead of Nordic Semiconductor chips currently used by the company. This shift aims to enhance computing power, enabling features like AI interactions and gaming directly from the device. The startup is also preparing for upcoming software updates that will introduce capabilities such as game control functions and third-party app development on existing models. Ultrahuman’s CEO Mohit Kumar envisions a future where rings act more like computers than trackers, offering precise interaction while monitoring physiological data. With an annual revenue run rate of $140 million—projected to reach $200 million by 2027—the company is expanding its product capabilities and user engagement through subscriptions for additional features.
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Topics: AI devices Qualcomm startups venture capital wearable technology