Health technology startup Ultrahuman has raised $17.5 million in funding

CIOReviewIndia Team | Tuesday, 17 August 2021, 03:51 IST

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Health technology startup Ultrahuman has raised $17.5 million in fundingHealth technology startup Ultrahuman has raised $17.5 million from Alpha Wave Incubation (AWI), Steadview Capital, and existing backers Nexus Venture Partners, Blume Ventures and Utsav Somanis iSeed fund.

The Bengaluru based company, which helps users measure their metabolic fitness through a wearable device, will use the funds for geographical expansion and to improve its biomarker technology, it said.

Angel investors who participated in the round include Tiger Globals Scott Schleifer, Creds Kunal Shah, Udaans Sujeet Kumar, Zomatos Deepinder Goyal, Unacademys Gaurav Munjal, among others.

The company has so far raised $25 million, including the latest round.

Founded by Mohit Kumar and Vatsal Singhal, Ultrahuman's wearable device helps people optimize their exercise and nutrition, based on glucose biomarkers. Kumar and Singhjal were also the co-founders of hyper-local logistics services provider Runnr, which merged with food delivery app Zomato in 2017.

Launched in June in India, Ultrahuman has already amassed thousands of users in its waitlist, the company said.

“The metabolic health crisis is one of the largest healthcare crises that exist today. Over a billion people in the world suffer from a metabolic health disorder. Metabolic disorders contribute to almost 85% of all chronic diseases in the world,” the company said in a statement.

“By helping people understand how food and exercise affects their metabolic health, people would be able to make informed choices about what they eat and their activity levels," it added. This approach is a geography/diet-agnostic way to help people eat and exercise better, according to the company.

“Biomarkers will change how the fitness and the healthcare industry work. By being able to continuously monitor their biomarkers like glucose, users can not only avoid chronic diseases but make lifestyle changes that help them improve their fitness levels for longevity and performance,” Kumar, the cofounder and CEO of Ultrahuman, said.

“We are thrilled to back what could be a pioneering biomarker-driven global healthcare business. Their dual obsessiveness around product engineering and customer experience is already showing results in terms of product market fit and retention,” said Navroz D. Udwadia, cofounder, Falcon Edge Capital. AWI is backed by DisruptAD and managed by Falcon Edge.

“Ultrahuman’s biosensor-enabled, data-first model, in our view, is the future of any personalized healthcare ecosystem,” said Ravi Mehta, founder and MD, Steadview Capital.

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