• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Made in the USA: Ultrahuman plants flag in US with manufacturing facility UltraFactory to make first wearable rings in the country

1 year ago
in Business, Features, highlights, Home, home-news, latest News
3 min read
0 0
0
84
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

Made in the USA: Ultrahuman plants flag in US with manufacturing facility UltraFactory to make first wearable rings in the country

With smart ring market leadership within its sights, Ultrahuman has today announced plans to open a manufacturing facility poised to accelerate its production capacity. The UltraFactory will be located in Indiana. It opens 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 comes hot on the heels of 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.
The company has already seen phenomenal growth over the past year, becoming the second-largest player in the smart ring market while maintaining profitability. The opening of the new UltraFactory, will add a production capacity of 200,000 smart rings and present an additional $100m revenue opportunity annually. This is a push towards establishing smart ring market leadership in the US.
Ultrahuman’s ability to make significant long-term manufacturing investments, supported by its profitability, is unique in the smart rings market. As a result, UltraFactory’s cutting-edge end-to-end production capabilities will enable the company to fully capitalize on what the company sees as its biggest competitive advantage: fast product development and iteration, and speed of execution in rolling out to global markets.
With the US market growing in importance for Ultrahuman in recent months, the move will help the company lower costs in shipping and logistics, while aiding the US government in its push to strengthen domestic manufacturing rather than manufacturing in offshore locations, like China. This brings an expected hiring boom of 150 new Ultrahuman employees in the US over the next 12 months split between engineering and research (30%) and commercial operations (70%).
Mohit Kumar, Founder and CEO of Ultrahuman commented: “US 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. UltraFactory US 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 has seen phenomenal growth over the past 12 months, becoming the second-largest player in the smart ring market while maintaining profitability. “Our vision of being the top player in terms of both active devices and geographic presence is within reach, thanks to our rapid expansion and the love we’ve received from our users,” added Mohit Kumar.
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.
“Our growth is a testament to the user love for our products, highlighted by industry-leading NPS and engagement metrics since the launch of our latest model, the Ring AIR. Our relentless focus on improving user experience through continuous firmware and software updates is what sets us apart,” Mohit Kumar emphasized. “Shipping a new firmware version every 2 weeks and weekly app improvements reflect our commitment to excellence and our speed of execution, our biggest competitive advantage. We’ve also iterated on hardware at the speed of software by designing novel devices like Ultrahuman Home, a home health monitor.”
Looking ahead, Ultrahuman is on track to surpass $100 million in annualized revenue run rate (ARR) by the end of 2024, a milestone that will be achieved profitably.
“Our ability to make long-term manufacturing investments, supported by our profitability, is unique in the smart ring market,” Mohit Kumar noted.
Ultrahuman’s dedication to scientific validation and innovation is further evidenced by the completion of a clinical trial involving 105 participants, aimed at validating the ‘Metabolic Score’ generated on the Ultrahuman platform.
“Our long-term investment in R&D and intellectual property is a cornerstone of our strategy, ensuring that our products not only meet but exceed the highest standards of efficacy and reliability,” Mohit Kumar concluded.
Tags: Made in the USA: Ultrahuman plants flag in US with manufacturing facility UltraFactory to make first wearable rings in the countryUltraFactoryUltrahuman plantsUSAwearable rings
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.