Ultrahuman and Kuku FM Break Into Global Markets: Founders Reveal Secrets to Success

India’s tech companies are expanding globally in waves, with the first wave led by service firms like Wipro and Infosys, followed by startups such as Zomato, Oyo, and Ola. The third wave brought SaaS companies like Zoho and Freshworks, and now, the fourth wave is emerging. In the Two by Two podcast, Mohit Kumar of Ultrahuman and Lal Chand Bisu of Kuku FM share their journeys of taking their products abroad. Ultrahuman, known for smart rings, has made the US its largest market, while Kuku FM offers premium audio content in Indian languages. Both founders highlight the advantages of being “latecomers,” learning from competitors’ mistakes and iterating faster.

Despite facing challenges, including market downturns, both companies focus on building strong foundations and avoiding distractions from quick growth phases. Their success is built on thoughtful strategies, leveraging technology like GenAI to create better products.

Ultrahuman and Kuku FM Break Into Global Markets: Founders Reveal Secrets to Success

India’s tech industry has experienced several waves of companies expanding globally. The first wave was led by service giants like Wipro and Infosys, offering IT solutions worldwide. Next, startups like Zomato, Oyo, and Ola took their businesses beyond India’s borders. The third wave consisted of SaaS (Software as a Service) companies like Zoho and Freshworks, which built global products from India. Now, a fourth wave is emerging, with startups like Ultrahuman and Kuku FM taking their innovations worldwide. In a recent podcast, the founders of these companies shared how they’re succeeding globally, even though they weren’t the first in their industries.

Ultrahuman: Competing with Smart Rings

Founded in 2019, Ultrahuman is best known for its health-focused smart rings that track metrics like sleep and activity. Competing against established players like Oura and Samsung might seem daunting, but the U.S.—Ultrahuman’s largest market, contributing 65% of sales—has embraced their products. Founder Mohit Kumar believes being a “latecomer” actually helped. “Entering the market later let us learn from others’ mistakes,” he explains. Instead of copying existing products, Ultrahuman redesigned their smart rings from scratch, focusing on user needs like affordability and faster updates. Lower manufacturing costs also allowed them to improve their product quickly based on customer feedback.

Kuku FM: Audio Content for Regional Audiences

Kuku FM, a platform offering premium audio content in Indian languages like Hindi and Bengali, also entered a competitive space. Pocket FM, an earlier player, had already paved the way. But co-founder Lal Chand Bisu says arriving late was an advantage. By observing competitors, Kuku FM avoided costly errors, such as overspending on content creation. They also used new technologies like generative AI to produce high-quality content efficiently. Today, Kuku FM serves not just Indian users but also global audiences craving regional content.

The Latecomer Edge

Both founders agree that not being first gave them a unique advantage. For Ultrahuman, this meant avoiding the hype-driven mistakes of early competitors. Mohit points out that many first movers in tech focus on trends rather than solving real problems. In contrast, Ultrahuman prioritized creating a product that genuinely improves health outcomes. Similarly, Kuku FM studied gaps in the audio content market—like the demand for non-English material—and tailored their platform to meet those needs. “We didn’t have to waste time or money on trial and error,” says Bisu.

Timing Matters: Bear Markets vs. Bull Markets

Another key factor in their success is timing. Both companies scaled during a market downturn, often called a “bear cycle.” While some see this as a challenge, Mohit and Bisu view it as an opportunity. During economic booms (“bull markets”), companies often chase rapid growth, spending heavily on marketing and expansion. However, this can lead to inflated expectations and unsustainable practices. In contrast, a bear market forces businesses to focus on fundamentals. Ultrahuman used this period to build a loyal customer base and refine their product, while Kuku FM invested in scalable technology and content libraries. “A downturn lets you grow thoughtfully, without distractions,” Mohit adds.

Looking Ahead

For Ultrahuman, the next step is expanding their product line beyond smart rings. They’ve already introduced devices like a blood glucose monitor and a home health tracker, aiming to create a comprehensive health ecosystem. Kuku FM plans to add more Indian languages and explore global markets where regional content is underserved, such as the Middle East and Southeast Asia. Both companies emphasize the importance of staying customer-focused rather than chasing trends.

Lessons for Aspiring Global Startups

The stories of Ultrahuman and Kuku FM offer valuable lessons:

1. Embrace being a latecomer: Use others’ mistakes as a roadmap.
2. Leverage technology: Tools like AI can help you move faster and smarter.
3. Build during downturns: Focus on solid foundations over quick wins.
4. Solve real problems: Prioritize customer needs over market hype.

By staying agile and learning from the past, these companies prove that it’s possible to go global—even in crowded markets—by offering innovative, value-driven solutions. As the fourth wave of Indian startups rises, Ultrahuman and Kuku FM are leading the charge, showing that success isn’t about being first, but about being resilient and adaptable.