Ultrahuman raises $65M Series C

The round totals $70M including $5M of debt, so the $65M in the headline is primary equity. Qualcomm Ventures led, joined by Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners and Alteria Capital. A person familiar with the terms put the $365M post-money valuation at roughly triple the $120M mark from 2023. Earlier regulatory filings had pointed to a raise of about Rs 583 crore, around $60M. The company has sold about 800,000 rings and runs at an annual revenue rate near $140M, up roughly 45% year on year, with a $200M target by January 2027. Proceeds are earmarked for India and the UAE, clinical research and product development. Reports also say Ultrahuman will co-develop a Qualcomm-powered Ring PRO and move from Nordic Semiconductor chips to Qualcomm silicon, so software can run on the device itself. For AI founders, the deal shows a chip vendor funding a customer to lock in a hardware platform for on-device inference. Edge AI products may find silicon partners willing to pair investment with engineering support. It also shows that health data from a large installed base, plus a diagnostics partner like Labcorp, is what investors are paying for in consumer wearables.