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Ultrahuman raises Rs 100 Cr in debt from Alteria Capital

EntrackrEntrackr · 4d ago
Ultrahuman raises Rs 100 Cr in debt from Alteria Capital
Medial

Ultrahuman raises Rs 100 Cr in debt from Alteria Capital Ultrahuman has raised Rs 100 crore ($11.2 million) in venture debt from Alteria Capital, the company said in a statement. The Bengaluru-based wearable and health-tech firm will use the capital to expand its product stack, strengthen software-led revenue, and support its sports and research partnerships. Ultrahuman has raised over $71.2 million to date, including a $35 million Series B round led by Zomato founder and CEO Deepinder Goyal alongside existing backers. Nexus Ventures holds the largest external stake at 17.26%, followed by Blume Ventures, while co-founders Mohit Kumar and Vatsal Singhal jointly own 28.9% of the company. Ultrahuman generated Rs 565 crore in operating revenue in FY25, with the US contributing close to 60% of the total. The company reported a net profit of Rs 73 crore during the fiscal, compared to a loss of Rs 38 crore in FY24, supported by scale in the US market. In a recent interaction with Entrackr, Ultrahuman founder Mohit Kumar said the firm expects to more than double its revenue to around Rs 1,100 crore in FY26, based on its current annualised run rate (ARR). The fundraise comes at a time when Ultrahuman is dealing with a legal and regulatory challenge in the United States, its largest market. In May, Oura said Ultrahuman copied its smart ring design and patents, which led to a US order blocking Ultrahuman rings from entering the country. Ultrahuman has filed its own case in Delhi, saying Oura copied its sensor technology and health features. The company is also seeking confirmation on whether devices manufactured at its Texas facility would fall outside the scope of the import ban, which could determine the pace at which supply resumes.

Ultrahuman reports Rs 565 Cr revenue and Rs 73 Cr profit in FY25

EntrackrEntrackr · 2m ago
Ultrahuman reports Rs 565 Cr revenue and Rs 73 Cr profit in FY25
Medial

Ultrahuman reports Rs 565 Cr revenue and Rs 73 Cr profit in FY25 After recording over 15X growth in revenue between FY22 and FY24, wearable tech startup Ultrahuman delivered another 5X year-on-year surge during FY25. Alongside this growth, the Bengaluru-based company also turned profitable during the fiscal year ending March 2025. Ultrahuman’s revenue from operations jumped to Rs 565 crore in FY25 from Rs 105 crore in FY24, according to the company’s consolidated financial statements reviewed by Entrackr. Ultrahuman operates as a self-quantification platform with products including its flagship smart ring Ring Air, glucose monitoring wearable M1 Live, and blood testing solution Blood Vision. Smart rings emerged as the company’s mainstay, contributing 91.3% of operating revenue, which grew 9.5X to Rs 516 crore in the last fiscal year. Its subscription income increased 7.4% to Rs 29 crore, while other operating revenue stood at Rs 20 crore. Including other income from interest and gains on mutual funds, the company’s overall income rose 5.4X to Rs 581 crore in FY25, up from Rs 108 crore in FY24. The company has a holding entity in India and four wholly-owned subsidiaries across the US, UK, and the Middle East. The US remains Ultrahuman’s largest market with a 61.4% share, followed by the UK (4.5%), the Middle East (5.9%), and India (2.7%). As per a report shared earlier this year, Ultrahuman said its retail sales climbed to 35% in 2024, up from 20% in 2023, while D2C contributed 41%. Growth was driven by strong traction in emerging markets such as Thailand, Hungary, and Germany, along with sustained demand in core geographies including the US, India, UAE, and the UK. On the cost front, procurement expenses stood at Rs 95 crore, while employee benefits were recorded at Rs 52 crore. Advertising, selling, and distribution together consumed Rs 142 crore in FY25. Job work, website maintenance, legal, spare parts, and other overheads pushed Ultrahuman’s total expenditure to Rs 535 crore during the fiscal year. A sharp scale-up combined with controlled costs helped Ultrahuman swing into the black, posting its first-ever profit of Rs 73 crore in FY25, compared to a loss of Rs 38 crore in FY24. Its ROCE and EBITDA margin improved to 12.9% and 8.76%, respectively. At the unit level, the company spent Re 0.95 to earn a rupee in FY25. As of March 2024, its total current assets stood at Rs 544 crore, including Rs 80 crore in cash and bank balances. The company disclosed in its annual report that on August 22, 2025, Ultrahuman Healthcare Limited, a wholly owned subsidiary, entered into a share purchase agreement to acquire 100% of viO HealthTech Limited, thereby strengthening women’s cycle and ovulation tracking capabilities for its smart rings. Ultrahuman has raised over $60 million to date, including a $35 million Series B round led by Zomato founder and CEO Deepinder Goyal alongside existing backers. Nexus Ventures holds the largest external stake at 17.26%, followed by Blume Ventures, while co-founders Mohit Kumar and Vatsal Singhal jointly own 28.9% of the company.

Exclusive: Oxyzo secures Rs 100 Cr debt

EntrackrEntrackr · 9m ago
Exclusive: Oxyzo secures Rs 100 Cr debt
Medial

Exclusive: Oxyzo secures Rs 100 Cr debt Fintech unicorn Oxyzo has secured Rs 100 crore (approximately $12 million) in debt from AK Capital Finance, a subsidiary of merchant banker A.K. Capital Services Ltd. The boards at Oxyzo allotted 1,00,000 non-convertible debentures to AK Capital at an issue price of Rs 10,000 each to raise Rs 100 crore, its regulatory filing sourced from the Registrar of Companies shows. The aforementioned debentures are issued for a tenure of 24 months and carry an interest rate of 9.75% per annum, the filing added. The proceeds will be used to augment the long-term resources of the company and meet working capital requirements. Oxyzo is the lending arm of B2B e-commerce unicorn OfBusiness, providing customized credit solutions for SMEs. It offers a range of loan products, including term loans, working capital solutions, low-interest rates, and collateral-free credit options. According to data intelligence platform TheKredible, the Gurugram-based company reported operating revenue of over Rs 900 crore and a profit of Rs 290 crore for the financial year ending 2024. Oxyzo’s net profit grew 11.38% to Rs 82.89 crore and sales jumped 27.43% to Rs 282.80 crore in the quarter ended December 2024 (Q3 FY25), compared to Rs 221.93 crore in December 2023. The Ruchi Kalra-led firm achieved unicorn status by raising $200 million in its first external funding round, and it became the first startup to surpass a $1 billion valuation during its Series A round. As per TheKredible, OFB group including promoters holds 74.5% while Alpha Wave is the largest external stakeholder with 7.4% followed by Tiger Global.

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