Qualcomm backs Ultrahuman in $70M round on bet to turn smart rings into computers

Ultrahuman raised $70 million, valuing the Bengaluru company at $365 million. Investors included Qualcomm Ventures, Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners, and Alteria Capital. The deal comprised $65 million equity and $5 million debt. The company will replace its Nordic Semiconductor chip with Qualcomm silicon for on-device computing, game control, and AI interaction. Ring Air and Ring Pro will receive software updates by September adding game-controller functionality, AI app integration, and third-party developer support. The annual revenue run rate is $140 million, projected to reach $200 million by January 2027.