Ultrahuman, a Bengaluru-based health technology and wearables company, has secured roughly $11.27 million in venture debt to accelerate its next phase of global growth. The financing, raised from India-focused venture debt firm Alteria Capital, comes as the company deepens its presence in key international markets and broadens its product ecosystem. At the same time, Ultrahuman is managing a US patent dispute while targeting revenue of about $120 million by the 2026 financial year.
Venture Debt Fuels Growth Strategy
The new venture debt round, equivalent to around ₹100 crore ($11.27m), is positioned as a bridge toward a larger equity funding round expected in the coming weeks. Ultrahuman plans to use the capital to scale operations in Canada, Mexico and Australia, building on existing demand in its core geographies. The company described the timing as a “key growth season,” and said the funding will help it move faster without sacrificing its cost-disciplined, capital-efficient operating philosophy.
International Expansion and Partnerships
Ultrahuman intends to channel the fresh capital into market expansion, deeper product innovation and an expanded network of sports and research partnerships. Management sees these collaborations as critical to validating its technology and broadening its adoption across performance-focused and health-conscious user segments. The company also plans to invest in new software features and recurring revenue streams that sit on top of its hardware products, strengthening the overall economics of its ecosystem.
Managing a US Patent Dispute
The expansion push comes as Ultrahuman navigates an ongoing patent dispute with Oura in the United States related to its smart ring category. The company has emphasized that the case does not affect its other offerings, including its sleep monitor, continuous glucose monitoring product and a rapidly scaling blood testing line. Ultrahuman said existing ring inventory in the US should cushion any short-term impact and that it is already working on a new ring model with enhanced features for a post-dispute transition.
Diversifying Beyond the Ring Form Factor
Chief executive Mohit Kumar has stressed that Ultrahuman does not intend to limit itself to a single hardware form factor. He argues that delivering stronger, clinically relevant health outcomes requires multiple devices and interfaces, since preferences differ across users and healthcare delivery channels. This philosophy underpins Ultrahuman’s broader platform, which includes the Ring AIR, the M1 CGM product, Blood Vision, Ultrahuman Home and Cycle & Ovulation Pro, all aimed at enabling earlier intervention and better lifestyle management.
Emerging Revenue Drivers and Financial Outlook
While the company’s ring product remains a flagship, newer categories are becoming increasingly important to its growth story. Blood testing currently accounts for about 5 percent of revenue across India, the United States and the United Arab Emirates, but is now Ultrahuman’s second fastest-growing category and is expected to approach 20 percent in the coming quarters. Against this backdrop, Ultrahuman expects to surpass roughly $120 million in revenue by the 2026 financial year, while accepting near-term pressure on profitability as it invests heavily in international expansion and product development.
Alteria Capital’s managing partner and cofounder, Vinod Murali, said the investment reflects confidence in Ultrahuman’s engineering-led approach, attention to detail and ability to execute in demanding developed markets. He framed the company’s mission as enabling a more preemptive, data-driven approach to health and lifestyle management, aligned with rising global affluence and growing interest in health measurement and optimization. With fresh venture debt in place, a pipeline for a larger round and a diversified product roadmap, Ultrahuman is betting that its comprehensive wearable and ambient health ecosystem can maintain momentum despite legal headwinds and rising competition in the global health-tech arena.