Ultrahuman has unveiled plans to establish a new manufacturing facility in Indiana, named UltraFactory, set to open within the next six months. This facility is designed to enhance the company's production capabilities, with the capacity to manufacture 200,000 smart rings annually, presenting an additional $100 million revenue opportunity. This strategic move is part of Ultrahuman's ambition to become the market leader in the smart ring space within the next 12 to 15 months, following a $35 million series B funding round.
The UltraFactory will feature end-to-end production capabilities, mirroring the company's first operational model in India. This development is not only a testament to Ultrahuman's growth and profitability but also positions the company to leverage its competitive advantages: rapid product development and global market execution. The choice of Indiana for the new facility aligns with the US government's initiative to bolster domestic manufacturing, reducing reliance on offshore locations like China. Consequently, Ultrahuman anticipates creating 150 new jobs in the US over the next year, with a focus on engineering, research, and commercial operations.
Mohit Kumar, Founder and CEO of Ultrahuman, highlighted the significance of the US market, noting its substantial demand for smart rings and the strategic value of local manufacturing and research. The UltraFactory will support the production of health tracking smart ring devices and facilitate further innovation in product design. Ultrahuman's recent retail expansion into over 150 outlets worldwide, including prestigious locations such as London's Selfridges and Singapore's Changi Airport, underscores the company's global ambitions.
Beyond its flagship product, the Ring AIR smart ring, Ultrahuman's product suite includes the M1 Live continuous glucose monitoring wearable, the Ultrahuman Home health device, and the Blood Vision preventive blood testing product. These offerings integrate various health metrics, providing users with a comprehensive health monitoring platform. The establishment of the UltraFactory represents a pivotal step in Ultrahuman's journey towards achieving market leadership and expanding its geographic presence, fueled by user enthusiasm and the company's innovative approach to health technology.
