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8h ago

Ultrahuman Raises $70 Million to Pivot Smart Ring Into On-Body Computing Platform

The financing backs a shift to run AI and health processing on the device through a Qualcomm silicon partnership and to scale clinical diagnostics with Labcorp.

The Ultrahuman Ring Air sitting atop a rock, showing the visible sensors on the inner ring.
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Ultrahuman Ring Pro
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Overview

  • Ultrahuman announced the $70 million financing on Thursday, September 3, led by Qualcomm Ventures with strategic participation from Labcorp and other investors and structured as roughly $65 million in equity and $5 million in debt.
  • The company says the capital will fund research in sensing, miniaturized electronics and edge AI and will support development of a future ring built on Qualcomm silicon to run more compute on-device.
  • Ultrahuman plans a software update by the end of September to add new on-device features to existing Ring Air and Ring Pro units and to open support for third-party developer apps.
  • Management reported about 800,000 rings sold, a $140 million annual revenue run rate with a target of $200 million by January 2027, and a roughly $365 million valuation, while recovering U.S. sales after a redesign required by an earlier ITC patent ruling.
  • The company must manage prior operational issues — a small user data leak earlier this year and the legal/import challenge — as it scales diagnostic partnerships and supply; success will shape whether on-body rings gain wider clinical use and consumer trust.