Ultrahuman raises Rs 100 Cr in debt from Alteria Capital

Ultrahuman has raised Rs 100 crore ($11.2 million) in venture debt from Alteria Capital, the company said in a statement. 

The Bengaluru-based wearable and health-tech firm will use the capital to expand its product stack, strengthen software-led revenue, and support its sports and research partnerships.

Ultrahuman has raised over $71.2 million to date, including a $35 millionSeries B round led by Zomato founder and CEO Deepinder Goyal alongside existing backers. Nexus Ventures holds the largest external stake at 17.26%, followed by Blume Ventures, while co-founders Mohit Kumar and Vatsal Singhal jointly own 28.9% of the company.

Ultrahuman generated Rs 565 crore in operating revenue in FY25, with the US contributing close to 60% of the total. The company reported a net profit of Rs 73 crore during the fiscal, compared to a loss of Rs 38 crore in FY24, supported by scale in the US market. 

In a recent interaction with Entrackr, Ultrahuman founder Mohit Kumar said the firm expects to more than double its revenue to around Rs 1,100 crore in FY26, based on its current annualised run rate (ARR).

The fundraise comes at a time when Ultrahuman is dealing with a legal and regulatory challenge in the United States, its largest market. In May, Oura said Ultrahuman copied its smart ring design and patents, which led to a US order blocking Ultrahuman rings from entering the country. Ultrahuman has filed its own case in Delhi, saying Oura copied its sensor technology and health features.

The company is also seeking confirmation on whether devices manufactured at its Texas facility would fall outside the scope of the import ban, which could determine the pace at which supply resumes.