Overview
- Ultrahuman announced Thursday that it raised $70 million in a round valuing the company at about $365 million with participation from Qualcomm Ventures, Labcorp, Alpha Wave, Blume, Nexus and Alteria.
- The company said it is working with Qualcomm to replace its current Nordic chip with Qualcomm silicon for a next‑generation ring that can run more software and reduce dependence on phones or the cloud.
- Ultrahuman plans a software update for existing Ring Air and Ring Pro models by the end of September to add features that let the ring act as a game controller, provide inputs to AI applications, and open the device to third‑party developers.
- The startup reported roughly $140 million in annual recurring revenue, about 800,000 rings sold and a target of $200 million ARR by January 2027, while saying it will aim to show about eight quarters of profitability before considering an IPO as early as 2028.
- Significant risks remain because Ultrahuman faced a prior U.S. ITC patent ruling and import ban tied to Oura and disclosed a March cybersecurity incident that leaked wellness data for about 0.1% of users, issues that shape its redesign, U.S. re‑entry and regulatory work.