CIOInsider India Magazine
Ultrahuman to Raise $ 120 Million in a New Funding Round
Ultrahuman, a startup focused on creating devices for monitoring sleep and glucose levels, is close to securing more than $120 million, which is over Rs 1,000 crore, in a new funding round led by WestBridge Capital, alongside contributions from other private equity investors.
The agreement is solidifying as a growing number of individuals show greater interest in their health, while investors wager on the science of longevity.
One of the sources mentioned that this round might value the company at approximately $550-$600 million, which would represent a 4.5X increase from $125 million in March 2024. Although WestBridge is expected to spearhead the round, additional private equity firms might participate to elevate the overall round amount to beyond $120 million.
Ultrahuman is in talks for a larger round with WestBridge while discussions for a smaller, $40 million deal with SoftBank fell through due to a lack of agreement on the company's future prospects.
The $40 million agreement would mark SoftBank's initial new investment in India following a nearly two-year hiatus. Until now, it has solely participated in follow-on rounds for current portfolio companies like Meesho and Eruditus.
For WestBridge, Ultrahuman will represent another significant investment following recent stakes in startups like Rapido and PhysicsWallah (PW).
Ultrahuman's ongoing funding round could surpass $120 million, representing at least 3X the initial target of approximately $40 million, as numerous investors, particularly those in private equity, support Ultrahuman, which has grown quickly in recent months.
In the calendar year 2024, Ultrahuman says it clocked a revenue of $74 million, a 6X increase from $13 million in CY23. That essentially means that Ultrahuman has doubled revenues in the past year and grown over 11X in two year
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In the calendar year 2024, Ultrahuman says it clocked a revenue of $74 million, a 6X increase from $13 million in CY23. That essentially means that Ultrahuman has doubled revenues in the past year and grown over 11X in two years.
