US-based healthtech startup known for its wellness ring, CUDIS, has secured $5 million in seed funding led by Draper Associates, Skybridge, Penrose, SNZ, Mozaik, NGC, Foresight Ventures, OGBC, Monke Ventures, DraperDragon, Block Patch, and Trinito. Other notable investors include Kalin Stoyanchev (Render Network), Andrew Chatham (Dimo), Adam Jin (Solana Foundation), Kel xyz (former Messari Research), Carl Vogel (6th Man Ventures), John Patrick Mullin (Mantra), and Qinwen (Lollipop), and Sean Carey (Helium & Borderless).
The company aims to challenge established players like Oura Ring in the rapidly growing wearable health tech market, estimated to reach $60 billion by 2025.
How will it use the investment?
CUDIS plans to use the funding to help over 1 million users build healthier habits through incentive rewards and personal AI coaching. Speaking specifically, the company aims to deliver over 1 million rings in the next 18 months, improve AI coach and gamification features, and strengthen its decentralised infrastructure with open APIs, developer tools, and health innovation grants.
“This funding is a critical step in our journey to set a new standard in wellness technology and directly compete with industry leaders like Oura,” shared Edison Chen, CEO of CUDIS tells TFN.
While CUDIS currently receives about 15% of its sales from the EU and UK markets, the company anticipates significant growth in this region. With the new funding and expanded production capabilities, CUDIS expects to increase its European market share significantly. To support this growth, the company is organising a European product launch event in November, collaborating with Superteam UK and Germany.
Speaking to TFN, Chen shared that the company is also leveraging its relationships with European pro-athlete ambassadors to drive adoption and innovation. Patrick Schilz, a former German mountain biking national team member and current Ironman Switzerland competitor, is among the notable European athletes using CUDIS.
Behind wearables technology and features
Founded in 2023, CUDIS distinguishes itself from competitors like Oura Ring (which primarily focuses on data tracking) through several key features. The company leverages blockchain technology to offer a rewards system for building healthy habits, incorporating gamification elements to encourage consistent engagement. In fact, CUDIS provides real-time incentives and a personalised AI coach that delivers actionable insights tailored to each user’s wellness journey.
Speaking to TFN, Chen emphasised the company’s commitment to privacy: “Users can securely store their health data on the Solana blockchain, and if they choose to upload it, the data is anonymised to protect their privacy. This ensures that the data remains private, fully controlled by the user, and cannot be accessed or monetised by third parties without their consent—something our competitors don’t offer.”
Investor perspectives
Timothy Draper, founder of Draper Associates, commented: “CUDIS is setting a new benchmark in wellness by leveraging technology to prioritise consumer needs. This innovative approach could redefine how we engage with our health and wellness.”
Anthony Scaramucci, founder of SkyBridge Capital, added: “CUDIS is leading a transformative shift in wellness, integrating blockchain and AI into daily life, and paving the way for user-driven health innovation.”
What do we think about CUDIS’s strategic move?
As the wearable health tech market grows, CUDIS aims to capture a significant share by offering unique features that set it apart from competitors like Oura, Fitbit, and Apple Watch.
Looking ahead, CUDIS plans to expand its product line, explore international markets, form strategic partnerships with healthcare providers, and continue innovating in the wellness space. However, the company’s success will depend on its ability to deliver on its promises and effectively compete with established players in the market.
