One smart ring to rule them all? Finnish startup Oura raises $200M

Finland start up Oura It has completed a US$200 million Series D financing, valuing the smart ring manufacturer at US$5.2 billion.

Oura’s smart ring uses 20 biometric markers to track sleep, physical activity and stress recovery. The device displays this data in the app, giving you a personalized Readiness score. We tested this wearable earlier this year And left a deep impression.

Founded in 2013, Oura In 2016, the technology startup received its first funding on Kickstarter.

Oura CEO Tom Hale said: “We have made significant progress in advancing our mission of making health and wellness an everyday practice and will use this funding to unlock new opportunities, with artificial intelligence development at the core of our strategy.”

2022, Oura Become a unicorn and sell your millionth ring. Two years later, the company claims to have recently sold its 2.5 millionth device, with sales this year alone reaching $500 million.

“We know Oura With the potential to change lives at scale, we’re excited to continue leading innovation in the market while pursuing opportunities beyond the ring.

Oura said it has signed partnerships with major retailers such as Amazon and Target this year. The ring is particularly popular with celebrities, including Prince Harry, Gwyneth Paltrow and Jennifer Aniston. Even the Pentagon placed a $96 million order in October to put (or should I say “put”) these devices in soldier hands.

Although smart watch sales flat lineThis year d,sMart rings are becoming more and more popular. According to market intelligence companies, global smart ring sales are expected to nearly double, from an estimated 1.7 million units at the end of 2024 to 3.2 million units in 2028 international information center.

For many users, They’re considered a more convenient option than smartwatches like the Apple Watch, but still include many of the same features. The smart ring also moves less and fits the skin better.

IDC says smart ring manufacturers will sell 880,000 units in 2023. this Oura The ring is ready 80% of its sales soared above competitors such as Ultra human and Samsung.

Judging from these numbers, it does appear that Oura is the current lord of the (wisdom) ring. Sorry, I can’t help myself.

ShouldFidelity Management led the round, and Dexcom, a German supplier of blood glucose monitoring sensors for diabetics, also participated.