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Ultrahuman Gets $35m for More Health Monitoring Products

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Ultrahuman

By Adedapo Adesanya 

Wearable tech company, Ultrahuman has announced a $35 million Series B investment funding round, made up of equity and debt, that will help it expand its domination in the smart ring market where it is the second-largest player.

 The funding saw participation from venture capital firms Blume Ventures, Steadview Capital, Nexus Venture Partners, Alpha Wave and Zomato founder Deepinder Goyal.

Ultrahuman is at the forefront of the health-tech revolution, boasting the world’s largest and only multi-device health ecosystem. 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.

Ultrahuman will deploy the funds towards building further manufacturing capacity and deeper research in the health tracking space.

Speaking on this development, Mr Mohit Kumar, co-founder of Ultrahuman said, “This funding round marks a pivotal step forward in our journey to dominate the smart rings space, bringing us closer to our goal of being the market leader.”

“The future of health is integrated, and at Ultrahuman, we’re making that future a reality today by seamlessly combining various health data streams to empower preventative health and wellness,” he added.

Ultrahuman has seen phenomenal growth holding a considerable market share while maintaining profitability driven by over 150 retail outlets worldwide, including iconic locations like London’s Selfridges on Oxford Street, Changi Airport in Singapore, and the Virgin megastore in Dubai. This retail footprint expansion has been instrumental in introducing Ultrahuman’s cutting-edge technology to a global audience.

To this, the company’s co-founder said, “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.”

“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,” Mr Kumar added.

“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 in hardware at the speed of software by designing novel devices like Ultrahuman Home, a home health monitor.”

Looking ahead, he said 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 rings market.”

UltraFactory, a recent addition of a new manufacturing facility, is capable of supporting $200 million in annual revenue, a clear indication of Ultrahuman’s readiness for its next phase of growth.

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,” Mr Kumar concluded.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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FG Begins Vaccination Against Mpox in FCT, Six States

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By Adedapo Adesanya

The Federal Ministry of Health and Social Welfare through the National Primary Health Care Development Agency (NPHCDA) has commenced the vaccination against Monkeypox, now known as Mpox.

Business Post reports that Bayelsa, Rivers, Cross River, Akwa Ibom, Enugu, Benue, and the Federal Capital Territory, were selected as pilot states for the vaccination.

An average of 631 persons are expected to be vaccinated across the seven states with two doses of the Mpox vaccine. A buffer for 50 persons will be kept at the national in case of an upsurge in other states.

NPHCDA in a statement posted on its verified X account confirmed the exercise, stressing that the vaccination will help to protect communities and safeguarding health of the people.

In a related development, according to the latest update by the Nigeria Centre for Disease Control (NCDC), there are 1,442 suspected cases of Mpox from 36 states and the Federal Capital Territory, while the number of confirmed cases of the infection was 118 from 28 states and the FCT.

“To prevent the spread of Mpox, we strongly advise the public to avoid contact with animals that may carry the virus, including sick or dead animals in affected areas, avoid handling materials that have been in contact with infected animals, limit unnecessary physical contact with individuals who are infected, practice frequent handwashing with soap and water, and ensure that animal food products are thoroughly cooked before eating.

“It’s also important to use protective clothing and gloves when handling sick animals or their tissues. Similarly, health workers are advised to follow standard safety protocols including droplet precautions when treating patients, use protective equipment including masks, gloves, and gowns, during patient care, and be vigilant for symptoms of Mpox, especially fever and rash, among other measures.”

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AXA Mansard Health Partners LUTH in Blood Donation Drive

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By Aduragbemi Omiyale

Over 250 pints of blood have been donated by AXA Mansard Health to the Lagos University Teaching Hospital (LUTH), Idi Araba.

The blood was donated by more than 100 employees of the leading health insurance company in Nigeria through its volunteering programme tagged AXA Hearts in Action.

The initiative is part of the company’s blood donation drive aimed at contributing to positive societal and environmental impacts through employee volunteering, and expertise related financial support and in-kind donations.

According to the Chief Client Officer of AXA Mansard, Ms Rashidat Adebisi, “Through the AHIA, our employees do not just give time to great causes; we work together for a better future.”

“We share our time, knowledge and expertise as a people with a shared purpose of acting for human progress by protecting what matters through initiatives like this,” she added.

Ms Adebisi said the blood drive is a shining example of the philosophy in action, where collective contributions serve as a reminder that true impact often involves giving more than just money. It’s about putting one’s heart in action – an idea embedded in AXA’s corporate culture.

On his part, the chief executive of AXA Mansard Health Limited, Mr Tope Adeniyi, said with hospitals frequently experiencing blood shortages, events like these serve as a lifeline for patients in need.

“We are proud to contribute to the local healthcare sector and provide much-needed support to hospitals such as LUTH, ensuring that they have resources essential to saving lives,” he added.

Also commenting, the Head of Corporate Services and Public Relations at LUTH, Omolola Olubukunola Fakeye, thanked the firm for the “generous support,” which has made a “meaningful difference to our blood bank and ultimately to the lives of patients.”

“Blood donations are invaluable in many critical treatments, and initiatives like AXA Mansard’s blood drive bring immense relief to healthcare system.

“We are sincerely grateful for this partnership and the dedication of AXA Mansard’s employees,” Fakeye stated.

AXA Hearts in Action operates globally, she urging AXA employees everywhere to engage with and give back to their communities.

Through diverse projects – from health initiatives like this blood drive and medical outreaches to environmental efforts like the AXA Week for Good “Trash-to-Treasure” waste management project – AXA staff have opportunities to make a lasting difference on issues that matter.

For AXA Mansard, every act of social service brings them closer to the communities they serve, helping build a world where giving back is not only about charity but about lasting, positive change.

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US Buys 4.8 million Swipha Malaria Doses for Nigeria, Others

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By Adedapo Adesanya

The US Agency for International Development (USAID) has committed $2.3 million to procure 4.8 million doses of life-saving malaria tablets from Swiss Pharma (Swipha) in a landmark partnership that will expand access to essential medicines in Nigeria and West Africa.

This procurement, to be facilitated through the U.S. Government’s President’s Malaria Initiative (PMI), underscores the United States’ dedication to advancing Nigeria’s healthcare infrastructure and ensuring life-saving treatments reach vulnerable communities.

For years, Nigeria has faced significant challenges in procuring affordable, high-quality medicines due to the high cost of production and the inability of many local pharmaceutical companies to meet international quality standards.

According to the World Health Organization (WHO), fewer than 10 per cent of medicines manufactured in sub-Saharan Africa meet global standards, limiting local companies’ ability to supply essential drugs and meet healthcare needs.

These barriers have particularly affected access to medicines for malaria and child health, as local production has often fallen short of both quality and quantity requirements.

In response, USAID partnered with Swipha in their efforts to attain World Health Organization (WHO) prequalification for sulfadoxine/pyrimethamine (SP) tablets, a vital medicine for malaria prevention during pregnancy.

Swipha is now the first pharmaceutical company in Nigeria and in West Africa to achieve this WHO certification, marking a critical step forward for the region’s pharmaceutical capacity.

“USAID’s support was pivotal in helping us reach this milestone,” said Swipha Managing Director, Mr Frederic Lieutaud.

“The WHO prequalification not only validates our commitment to producing high-quality medicines but also enhances our capacity to scale production and serve both local and international markets with trusted, essential medicines.”

With the WHO prequalification, Swipha is well-positioned to expand its reach, supplying these essential medicines to international donors and procurement agencies, ultimately strengthening healthcare delivery across Nigeria and the broader West African region.

This achievement also represents a significant boost to Nigeria’s healthcare system by enhancing local manufacturing capacity and contributing to public health efforts to combat preventable diseases.

During her visit to Swipha’s facility in Lagos, USAID Mission Director to Nigeria, Ms Melissa Jones, commented “This achievement is a testament to the power of collaboration in improving healthcare in Nigeria.

“We are proud to have supported Swipha in reaching this milestone and look forward to continuing our partnership to ensure more quality medicines reach those who need them most. Together, we are building a healthier future for Nigeria.”

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