Health-monitoring platform Ultrahuman announced plans to open a manufacturing facility in Indiana. The company expects the location to open within the next six months and will be the launchpad for Ultrahuman’s next phase of growth.
The UltraFactory will offer an end-to-end production capability and is based on the company’s first operational model of such a facility in India. This development follows a $35 million fresh investment in the company (series B funding round) and reaffirms Ultrahuman’s ambition to become the market leader in the smart ring space in the next 12 to 15 months.
Ultrahuman
Additionally, Ultrahuman anticipates a hiring boom of 150 new Ultrahuman employees in the U.S. over the next 12 months split between engineering and research (30%) and commercial operations (70%).
The opening of the new UltraFactory, will add a production capacity of 200,000 smart rings and present an additional $100 million revenue opportunity annually.
With the U.S. market growing in importance for Ultrahuman in recent months, the move will help the company lower costs in shipping and logistics, while aiding the U.S. government in its push to strengthen domestic manufacturing rather than manufacturing in offshore locations.
“U.S. is an interesting market for us given it has always been huge in terms of demand for the product but we’re also seeing tremendous value from a manufacturing and research perspective," Ultrahuman founder and CEO Mohit Kumar said. "UltraFactory U.S. would enable manufacturing for health tracking smart ring devices and give us the ability to do necessary research to evolve the form factor further.”
Ultrahuman
UltraFactory will help Ultrahuman support its recent retail expansion into over 150 outlets worldwide, spanning iconic locations like London’s Selfridges on Oxford Street, Changi Airport in Singapore, and the Virgin megastore in Dubai. In addition to their smart ring called Ring AIR, the Ultrahuman product suite includes a continuous glucose monitoring wearable called M1 Live, a home health device called Ultrahuman Home and a preventive blood testing product called Blood Vision. Their platform integrates glucose, sleep, movement, blood markers and HRV, offering a comprehensive approach to health monitoring.
