Ultrahuman Secures Rs 100 Crore in Venture Debt

Ultrahuman has successfully raised Rs 100 crore (approximately $11.2 million) in venture debt through Alteria Capital, as stated by the company. The Bengaluru-based health-tech and wearable technology firm plans to utilise this capital to broaden its product range, enhance software-driven revenue, and bolster its partnerships in sports and research.

Funding Overview

To date, Ultrahuman has accumulated over $71.2 million in funding, which includes a notable $35 million Series B round spearheaded by Deepinder Goyal, the founder and CEO of Zomato, along with contributions from existing investors. Nexus Ventures possesses the largest external ownership stake at 17.26%, closely followed by Blume Ventures. Co-founders Mohit Kumar and Vatsal Singhal collectively hold 28.9% of the firm.

Financial Performance

For the fiscal year 2025, Ultrahuman reported operating revenues of Rs 565 crore, with nearly 60% of this revenue stemming from the US market. The company achieved a net profit of Rs 73 crore in this fiscal year, a significant improvement compared to a loss of Rs 38 crore in fiscal year 2024, attributed to the increasing market scale in the US.

Future Revenue Expectations

During a recent interview with Startup Superb, Ultrahuman’s founder, Mohit Kumar, indicated that the company anticipates more than doubling its revenue to approximately Rs 1,100 crore in fiscal year 2026, based on its current annualised run rate (ARR).

Legal Challenges

This fundraising initiative occurs amid a legal and regulatory challenge that Ultrahuman is encountering in the United States, its primary market. In May, the company was accused by Oura of copying its smart ring design and patents, resulting in a US ruling that prohibits Ultrahuman rings from entering the country. In response, Ultrahuman has initiated a lawsuit in Delhi, alleging that Oura has infringed upon its sensor technology and health features.

Manufacturing Concerns

Additionally, the company is seeking clarity on whether products manufactured at its facility in Texas would bypass the restrictions of the import ban, as this could significantly influence the resumption pace of their supply chain.