Ultrahuman has secured $70 million in funding to develop its smart ring beyond health tracking, enabling it to run applications directly on the device. Backed by Qualcomm Ventures among others, the company is focusing on new features and uses that position the ring as a computing platform.
- Raised $70M led by Qualcomm Ventures and Labcorp
- Shifting from tracking to running software on smart ring
- Plans for gaming, AI control, and smart device interaction
What happened
Ultrahuman has raised a total of $70 million in its latest funding round, including $65 million in equity and $5 million in debt. Key investors include Qualcomm Ventures and Labcorp, alongside several venture capital firms. This round values the Bengaluru-based company at approximately $365 million, representing significant growth from its 2023 valuation.
The fresh capital will help Ultrahuman advance its smart ring technology by integrating Qualcomm’s processing chips, which will enable local computation on the device. Ultrahuman plans to update existing rings to function as game controllers and interfaces for AI applications, marking a shift from traditional health tracking to becoming a versatile, standalone computing platform.
Why it matters
Currently, most smart rings primarily serve as health and activity trackers, relying on smartphones or cloud services for processing. Ultrahuman's approach to embed more processing power within the ring itself aims to transform it into a multi-functional device capable of running various applications independently, including gaming, smart home control, and AI interaction.
This strategy aligns with broader industry trends where wearable devices are evolving beyond passive monitoring towards being active input devices and computing hubs. With Qualcomm's backing, Ultrahuman positions itself at the forefront of this shift, potentially creating a new platform for developers and innovative use cases that leverage biometric data for enhanced interactivity.
What to watch next
Ultrahuman will soon roll out software updates enabling its current rings, Ring Air and Ring Pro, to act as game controllers and AI application interfaces. This marks the initial step in turning the hardware into a platform supporting third-party development. The company is also working on next-generation hardware with Qualcomm that could control smart glasses through gesture inputs.
Market expansion efforts include opening physical retail stores in India and the UAE to complement online sales. With US demand reportedly 18 to 20 times greater than supply after overcoming past regulatory hurdles, Ultrahuman aims to scale volume significantly in the coming year. Tracking the company’s progress towards $200 million in revenue by early 2027 and its ability to deliver on new platform functionalities will be key indicators of success.