Ultrahuman to make its wearable rings in U.S.A.

Indian-based smart ring creator, Ultrahuman has announced its plans to open a manufacturing facility in the United States in an effort to accelerate its production capacity. The UltraFactory will be located in Indiana, and is expected to open within the next six months and will be the launchpad for Ultrahuman’s next phase of growth.

The UltraFactory will provide 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.

Value from a manufacturing and research perspective

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%).

“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,” said Mohit Kumar, founder and CEO of Ultrahuman commented.

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.