Wearable technology startup Ultrahuman reported operating revenue of ₹565 crore in FY25, marking a fivefold surge from ₹105 crore in FY24, as per its consolidated financial statements. The Bengaluru-based company also turned profitable, recording a net profit of ₹73 crore compared to a ₹38 crore loss in FY24.
Positioned as a self-quantification platform, the startup offers products such as the Ring Air smart ring, the M1 Live continuous glucose monitoring wearable, and its Blood Vision testing solution. Smart rings emerged as the key growth driver, generating 91.3% of revenues, or ₹516 crore, in FY25. Subscription income grew to ₹29 crore, while other operating revenue contributed ₹20 crore. Including interest and mutual fund gains, Ultrahuman’s total income touched ₹581 crore, a 5.4x jump year-on-year.
Structurally, Ultrahuman operates through a parent entity in India and four wholly owned subsidiaries in the US, UK, and the Middle East. The US market contributed 61.4% of revenue, followed by the Middle East (5.9%), the UK (4.5%), and India (2.7%).
On the cost side, procurement stood at ₹95 crore, employee benefits at ₹52 crore, and advertising, selling, and distribution expenses at ₹142 crore, bringing total expenditure to ₹535 crore. Strong revenue growth and cost control enabled the company to achieve an EBITDA margin of 8.76% and ROCE of 12.9%, spending just ₹0.95 to earn ₹1.
As of March 2024, Ultrahuman held current assets worth ₹544 crore, including ₹80 crore in cash and bank balances. Further, on August 22, 2025, its subsidiary Ultrahuman Healthcare signed a share purchase agreement to fully acquire viO HealthTech, enhancing its women’s cycle and ovulation tracking capabilities for its smart rings.
Since its inception, Ultrahuman has raised over USD 60 million, including a USD 35 million Series B led by Zomato founder & CEO Deepinder Goyal, alongside existing investors. Nexus Ventures remains the largest external stakeholder with 17.26%, followed by Blume Ventures, while co-founders Mohit Kumar and Vatsal Singhal collectively own 28.9%.
