Ultrahuman Raises $70M From Qualcomm Ventures to Turn Smart Rings Into AI-Powered Computers

Ultrahuman Secures $70 Million to Build Computing Platform on Your Finger

Ultrahuman has raised $70 million in a funding round that signals a fundamental shift in how smart rings operate1

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. The round, led by Qualcomm Ventures alongside Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners, and Alteria Capital, values the Bengaluru-based startup at $365 million—roughly three times its $120 million valuation in 20231

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. The financing includes $65 million in primary equity and $5 million in debt1

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. Qualcomm's involvement extends beyond capital—Ultrahuman is developing a new ring powered by Qualcomm silicon, replacing the Nordic Semiconductor chip currently used in its devices1

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From Health Tracker to Personal AI Device

Founder and CEO Mohit Kumar articulated the company's vision bluntly: "All ring devices today are like trackers"1

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. Ultrahuman aims to transform its smart ring into a computer where programs and algorithms run directly on the device, reducing reliance on phones or cloud infrastructure1

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. The added processing power from Qualcomm chips will enable use cases far beyond sleep and health tracking—including functioning as a pointer or mouse, a game controller, a car key, and an interface for AI integration1

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. Quinn Li, global head of Qualcomm Ventures, emphasized that "the future of AI is personal, ambient and always on," positioning Ultrahuman as a pioneer in next-generation AI wearables1

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Gesture Control and AI Interactions Coming This Month

Ultrahuman isn't waiting for new hardware to test its vision. A software update arriving by the end of September will bring gesture control and AI application capabilities to the existing Ring Air and Ring Pro1

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. The update will also allow third-party developers to build features for the devices1

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. Chief business officer Bhuvan Srinivasan described potential integration with Meta Glasses, where the ring could provide gesture control during the day while measuring sleep at night2

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. Kumar highlighted the unique advantage of a ring's position on the finger: "A game controller never reads your heart rate and your temperature, but this one does"1

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. This creates opportunities for games that respond not just to movements but to physiological signals like heart rate and body temperature1

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Strong Revenue Growth Amid Competitive Pressure

Ultrahuman's business fundamentals show momentum. The company operates at an annual revenue run rate of $140 million, up roughly 45% year-over-year, with expectations to reach $200 million by January 20271

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. It has sold approximately 800,000 rings to date, up from 700,000 in February1

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. About 12% of users subscribe to PowerPlugs, the company's optional software features1

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. This subscription-free model contrasts sharply with market leader Oura, which filed to go public the same week with an implied enterprise value of $9.656 billion—making it roughly 26 times larger than Ultrahuman3

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. Oura's S-1 filing revealed that membership revenue contributed $240.5 million of its $1,214.5 million in total revenue for the nine months ending June 30, running at an 89% gross margin3

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. However, Oura's filing explicitly acknowledged pricing pressure from competitors offering subscription-free models3

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Recovery in Key US Market After Patent Dispute

The US remains Ultrahuman's largest market, accounting for approximately 45% of revenue this quarter, while India contributes about 11%1

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. The company faced a significant setback when the US International Trade Commission ruled in favor of Oura in a patent dispute in September 2025, forcing Ultrahuman to stop selling Ring Air in the US for much of the past year3

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. Ultrahuman returned to the market with its redesigned Ring Pro this year1

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. Demand for the new device now runs at 18 to 20 times available supply in the US1

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. Kumar expects US sales volumes to return to pre-ban levels next quarter and aims to triple those volumes over the following four quarters as supply ramps up1

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Building an Ecosystem Beyond the Ring

Ultrahuman plans to deploy the new capital across sensing, materials, electrical engineering, algorithms, physiology and clinical research to develop future health-tracking devices2

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. The partnership with Labcorp supports Blood Vision, Ultrahuman's preventative blood testing service that has been in development for two years2

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. Srinivasan explained that Blood Vision aims to "bring together all the things you cannot measure on a wearable, but you can measure in your blood"2

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. The company also offers glucose monitoring and environmental sensing through Ultrahuman Home4

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. Kumar framed the company's broader mission: "Computers have understood almost everything about the world except the person using them. We want to change that"4

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. The goal is creating an interface that continuously understands the body and translates its signals into actionable intelligence for sleep, cardiovascular health, fertility navigation and metabolic health4

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. Some funding will also support physical retail expansion in markets like India and the UAE, where offline touchpoints drive sales1

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