Qualcomm backs Ultrahuman in $70M round to transform smart rings into computers
Original: Qualcomm backs Ultrahuman in $70M round on bet to turn smart rings into computers
Why This Matters
Qualcomm's strategic entry into smart ring hardware signals a broader push to embed edge AI into wearable form factors beyond smartwatches.
Indian smart ring startup Ultrahuman raised $70M led by Qualcomm Ventures, valuing the Bengaluru company at $365M — roughly 3x its 2023 valuation of $120M. The funding will support development of a Qualcomm-powered ring capable of running software on-device, targeting AI, gaming, and third-party app use cases.
Ultrahuman, the Bengaluru-based smart ring startup, has closed a $70 million funding round that includes $65 million in primary equity and $5 million in debt. The round values the company at $365 million, approximately three times its $120 million valuation from 2023. Qualcomm Ventures led the strategic investment alongside Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners, and Alteria Capital.
CEO Mohit Kumar told TechCrunch that Ultrahuman is jointly developing a new ring using Qualcomm silicon, in addition to its existing Nordic Semiconductor chips. The added processing power is intended to allow software and algorithms to run directly on the ring, reducing dependence on smartphones or the cloud.
"All ring devices today are like trackers," Kumar said, stating the company's goal is to evolve the ring into a computer. Planned use cases include gesture-based AI interaction, game control, car keys, and third-party developer apps. Some capabilities — including game controller functionality and AI app integration — will arrive via software update to the existing Ring Air and Ring Pro by end of September 2026. Qualcomm Ventures' global head Quinn Li said Ultrahuman is building "a new generation of personal AI devices."