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Decoding Ultrahuman’s Series B: Deepinder Goyal pumped in $10 Mn

EntrackrEntrackr · 1y ago
Decoding Ultrahuman’s Series B: Deepinder Goyal pumped in $10 Mn
Medial

Wearable tech startup Ultrahuman had raised $35 million in a mix of debt and equity in its Series B round led by Deepinder Goyal and existing investors Blume Ventures, Steadview Capital, Nexus VP, and Alpha Wave. While the company didn’t disclose about Goyal leading the round, Entrackr has decoded his investment along with others including Ultrahuman’s cap table and valuation through its regulatory filings. The board at Ultrahuman passed a special resolution to allot 6,979 Series B CCPS at an issue price of Rs 3,00,170 each to raise Rs 209.4 crore or $25 million, its regulatory filing accessed from the Registrar of Companies shows. Zomato’s co-founder Goyal led the round with Rs 83 crore while Alpha Wave and Blume Ventures infused Rs 66.34 crore and 29.86 crore, respectively. Nexus Venture Partners, Steadview Capital, and Panthera Capital participated with Rs 12.42 crore, Rs 13.77 crore, and Rs 4.14 crore. At the time of announcement, Ultrahuman said that the Series B round consisted of $25 million equity and $10 million debt. It’s worth noting that Ultrahuman’s co-founders Mohit Kumar and Vatsal Singhal sold their first startup Runnr to Zomato in September 2017. Zomato leveraged Runnr which merged with Mumbai-based TinyOwl to raise its own delivery fleet. Ultrahuman has raised over $60 million, including $35 million in Series B and $17.5 million in Series A in October 2022. As per TheKredible estimates, the company has been valued at around Rs 1,039 crore or $125 million (post-allotment of Series B round). Following the fresh proceeds, Nexus emerged as the largest external stakeholder with 17.26% followed by Alpha Wave’s 14.8% stake. Goyal holds 8.58% of the company. The company also has an ESOP pool of around 10.84% Head to TheKredible for the complete shareholding pattern. Ultrahuman is a self-quantification platform that provides a smart ring called Ring Air, a glucose monitoring wearable M1 Live, and a blood testing product called Blood Vision, among others. Ultrahuman demonstrated impressive financial performance in FY23 and its operating revenue flew 4X to Rs 30 crore. At the same time, the company’s losses grew only 21.4% to Rs 71 crore during the same period. Levels Health, Super Sapiens and Oura are the global peers of Ultrahuman.

Samsung has big ambitions for the Galaxy Ring

The VergeThe Verge · 1y ago
Samsung has big ambitions for the Galaxy Ring
Medial

Samsung has teased a new wearable device called Galaxy Ring, and it is expected to be released this year. The prototype models of the Galaxy Ring come in three colors, and it is lighter than expected. Although the specific sensors in the ring were not disclosed, it was mentioned that it will offer sleep insights based on heart rate, movement, and respiratory indicators. Samsung's partnership with Natural Cycles will bring period and fertility tracking to the Galaxy Ring. Through the ring and the Health app, Samsung will introduce a new metric called My Vitality Score, based on factors like sleep, activity, resting heart rate, and heart rate variability. The Galaxy Ring is a part of Samsung's vision for ambient sensing and connected care.

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

EntrackrEntrackr · 1m 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.

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