Qualcomm backs Ultrahuman in $70M round on bet to turn smart rings into computers
Indian startup Ultrahuman has secured $70 million in a new funding round, including investment from Qualcomm Ventures. The Bengaluru-based company, known for its smart rings, is now valued at $365 million, a significant increase from its $120 million valuation in 2023. The funding will support Ultrahuman's ambition to transform smart rings from health trackers into on-device computers capable of running software, AI interactions, and games. Ultrahuman is also collaborating with Qualcomm to develop a new ring utilizing Qualcomm's silicon, aiming to reduce reliance on phones or the cloud for processing power.
Ultrahuman's $70 million funding round, with Qualcomm Ventures participating, points to a strategic shift in the wearable market beyond basic health tracking. The Indian startup aims to evolve smart rings into standalone computing devices, moving processing power directly onto the ring. This initiative could open new avenues for developers and user interaction, potentially making rings into game controllers, car keys, or AI interfaces. The company's current annual revenue run rate is $140 million, with a forecast to reach $200 million by January 2027. The collaboration with Qualcomm on new silicon is a key development for the Asian hardware ecosystem. It suggests a growing interest in pushing advanced computing capabilities into smaller form factors. For India, this reflects a maturing startup scene capable of attracting global chip giants for hardware innovation. The challenge will be to deliver on the promise of a truly computational ring and to cultivate a developer ecosystem that can fully utilize these new capabilities.
