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Ultrahuman in talks to raise $120 Mn

Entrackr · 1d

Ultrahuman is reportedly in talks to raise $120 million in a new round led by WestBridge Capital. The development comes a year after the Bengaluru-based company’s $35 million Series B round. Moneycontrol, which reported the development first, said that some private equity funds may also participate in the round at a valuation of $550–600 million. According to TheKredible's estimates, the company was valued at $125 million after its Series B round. It has raised over $60 million to date from investors including Zomato founder and chief executive Deepinder Goyal, Nexus Ventures, Blume Ventures, and Alpha Wave. Ultrahuman is a self-quantification platform that offers a smart ring called Ring Air, a glucose monitoring wearable called M1 Live, and a blood testing product called Blood Vision, among others. The company also launched its luxury Rare smart ring collection earlier this year. The Mohit Kumar-led company recorded a significant jump in its operating scale to $74.5 million (approximately Rs 620 crore) for the calendar year 2024 (CY24). It claimed to have reported an 11% profit before tax (PBT) and an 8% EBITDA during the same period.