Qualcomm backs Ultrahuman in $70M round on bet to turn smart rings into computers
Indian startup Ultrahuman has raised $70 million in a funding round backed by Qualcomm to develop smart rings with advanced computing capabilities. The company aims to transition its devices from simple health trackers to multifunctional computers capable of running AI and software locally.
Why it matters
This shift represents a significant evolution in wearable technology, moving toward edge computing where devices operate independently of smartphones.
Ultrahuman , an Indian startup best known for making smart rings, has raised $70 million in a new funding round that includes backing from Qualcomm’s venture arm, as it looks beyond sleep and health tracking to build a ring that can run software on the device and eventually power everything from AI interactions to games.
The round values Bengaluru-based Ultrahuman at $365 million, about three times its $120 million valuation in 2023, a person familiar with the matter told TechCrunch.
Qualcomm Ventures participated in the financing alongside U.S. diagnostics giant Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners, and Alteria Capital. The round includes $65 million in primary equity and $5 million in debt, Ultrahuman founder and CEO Mohit Kumar said in an interview.
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