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Health device and tech startup Ultrahuman is moving towards diversifying its revenue streams both from a geographies and products point of view, according to the company’s co-founder.

- Rwit Ghosh & SNEHA SHAH

The company plans to launch new product lines, too.

“In the US, our non-ring category is growing very fi are the non-US geographi,” Mohit Kumar, also Ultrahuman's CEO, told Mint. “We're not dependant on one thing or solving just one problem.”

The company recently launched in Australia, Canada and Germany as it seeks diversify its business after the US International Trade Commission banned it last month from importing and selling its smart rings in the US, which accounts for 45-50% of its revenue. The ban was over an infringement of a patent owned by rival Oura.

Kumar said that three months after Ultrhuman's launch in Canada, the country accounts for 5% of its revenue. “Countries like Canada, Australia, Germany, and New Zealand are quick adoption markets because of their demographic similarity to the US.” Ultrahuman is also working on growing its product offerings as it doesn't want to be just known as a smart ring company. Apart from smart rings Ring AIR and Ring Rare, it also offers blood tests and a glucose monitoring patch the MI CGM, and Home, a health device capable of monitoring environmental markers that impact health.