Ultrahuman raised $60 million in Series C just a year after being banned from selling its smart rings in the US. The funding round, led by Qualcomm Ventures, arrives as co-founder Deepinder Goyal launches his own competing wearable startup. This puts pressure on Ultrahuman to prove its global expansion strategy beyond the American market.
How We Got Here
Ultrahuman faced a patent infringement lawsuit from Finnish rival Oura in 2024, leading to a US International Trade Commission ruling against them. By October 2025, the company was banned from importing and selling its smart rings in the US.
The Numbers
- Qualcomm Ventures invested Rs 143 crore, leading the Series C, with Alpha Wave adding Rs 114 crore and Labcorp Rs 95 crore.
- Existing backer Deepinder Goyal contributed Rs 47 crore, despite his new healthtech startup Temple entering the wearable tech space.
- Temple, Goyal's new venture, acquired London-based Longevous and expects to ship its own wearable device by the end of 2026.
- Ultrahuman's product portfolio includes the Ring AIR, Ring PRO, M1 live glucose monitoring wearable, and the Blood Vision blood testing platform.
- The Series C allotment involved 3,623 Series C and 3,832 Series C1 compulsory convertible preference shares (CCPS) at specific prices.
What Happens Next
🇮🇳 Why This Matters for India
For healthtech founders in Bengaluru and Pune, this raise signals investor confidence in the wearable space despite market entry barriers like patent disputes and strong local competition.
The Take
The real story here isn't the raise itself, but Ultrahuman's bet on rebuilding its market outside the US, post-ban. That Qualcomm and Alpha Wave are in, even as Deepinder Goyal launches a direct competitor, shows conviction in the tech—not necessarily the market strategy.
Source:
MediaNama ↗