Wearable and metabolic health startup Ultrahuman has secured Rs 100 crore ($11.2 million) in venture debt from Alteria Capital, strengthening its capital base as it scales products, software revenue streams, and global partnerships. The company plans to use the funds to deepen its health-tech ecosystem and accelerate work with sports institutions and research collaborators.
Boost to Product Innovation and Global Expansion
Ultrahuman has now raised more than $71.2 million across equity and debt, including a $35 million Series B backed by Zomato founder Deepinder Goyal and existing investors. Nexus Ventures remains its largest external shareholder at 17.26%, followed by Blume Ventures, while co-founders Mohit Kumar and Vatsal Singhal jointly hold nearly 29% of the company.
The company posted Rs 565 crore in operating revenue in FY25, with the US market contributing around 60%, marking its strongest international performance to date. It also reported a net profit of Rs 73 crore, rebounding from a Rs 38 crore loss in FY24 on the back of scale, distribution and recurring revenue.
Founder Mohit Kumar recently said the firm expects to more than double revenue to Rs 1,100 crore in FY26, supported by its rising annualised run rate and growing demand for metabolic tracking devices.
Regulatory Challenges in the US Market
The new funding comes as Ultrahuman navigates a legal dispute with Oura, which alleged design and patent infringement and secured a US import restriction on Ultrahuman’s rings. Ultrahuman has counter-filed in India, claiming that Oura replicated its sensor architecture and health features. The company is also awaiting clarity on whether devices assembled at its Texas facility will be exempt from the import limitations.
Final Take
Despite regulatory headwinds, Ultrahuman is expanding aggressively, backed by strong financial performance and investor confidence in its global wearable-health strategy.
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