Ultrahuman Raises INR 100 Cr Debt Amid US Ban

The US International Trade Commission’s cease-and-desist orders, effective October 2025, bar the company from importing and selling its smart rings in the country.

Bengaluru-based smart ring maker Ultrahuman has secured INR 100 Cr ($11.2 Mn) in venture debt from Alteria Capital as it aims to scale products, grow software-led revenue, and strengthen sports and research partnerships.

The capital infusion comes at a critical time, as Ultrahuman is embroiled in a legal dispute with Finnish rival Oura, which has led to a full import and sales ban on Ultrahuman’s Ring AIR model in the US—its largest market. The US International Trade Commission’s cease-and-desist orders, effective October 2025, bar the company from importing and selling its smart rings in the country.

Ultrahuman’s FY25 operating revenue of INR 564.7 Cr was heavily reliant on US sales, contributing nearly 60% of the total. The startup posted a net profit of INR 71.5 Cr, reversing a loss of INR 37.7 Cr in the previous fiscal. The ongoing US ban, however, threatens FY26 revenue until redesigned devices secure FCC approval. Ultrahuman is also evaluating whether devices manufactured at its Texas facility could be exempt from the import restrictions.

CEO Mohit Kumar emphasized maintaining cost discipline while accelerating growth, stating that the startup plans to move quickly during this phase while staying lean.

Domestically, Ultrahuman continues to pursue legal remedies. In September 2025, the Delhi High Court had dismissed its patent infringement suit against Oura due to incomplete disclosure of US ITC rulings. The suit has now been reinstated by the Division Bench, allowing Ultrahuman to continue safeguarding its intellectual property in India.

The venture debt is expected to provide breathing room for Ultrahuman to sustain product development, invest in software-led initiatives, and support partnerships despite uncertainty in its most critical market.

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