India, Nov. 20 -- Smart ring manufacturer Ultrahuman has raised INR 100 Cr ($11.2 Mn) in venture debt from Alteria Capital as it looks to scale its products and expand into more markets.

The Bengaluru-based startup said the new capital will help it build more features, grow its software-led revenue, and strengthen its sports and research partnerships.

In a statement, Ultrahuman CEO Mohit Kumar shared the startup's plans to maintain cost discipline while expanding, moving faster during this growth phase while staying lean.

Important to highlight that the startup has raised additional debt amid a high-stakes legal battle with its Finnish rival Oura. The dispute, which pertains to patents on the companies' smart rings, has already resulte...