Finnish wearable unicorn OURA, which recently released the Oura Ring 4 with Smart Sensing technology, has closed $200 million in Series D funding. Fidelity Management & Research Company and Dexcom, a leader in glucose biosensing, participated in the round. With this, the company’s valuation reaches $5.2 billion.
This new capital will enable OURA to expand its product offerings, fuel further investment in product, science, and healthcare innovation, including AI, advance global expansion efforts, and explore additional acquisitions to accelerate growth.
This funding milestone follows a period of marked growth for OURA. The company recently surpassed 2.5 million rings sold and has seen its member base and revenue more than double over the past year.
Oura Ring 4: All you need to know
Oura Ring 4 is built around Smart Sensing, a breakthrough technology that adapts to your unique physiology to deliver accurate, continuous data. The multiple sensors inside the ring form an 18-path multi-wavelength photoplethysmography (PPG) subsystem to provide highly accurate, continuous biometric data, including resting heart rate, sleep stages, heart rate variability (HRV), temperature trends, and more, throughout the day and night.
Featuring recessed sensors and a fully titanium inner and outer coating, it is sleeker and more comfortable than ever to wear all day long, from workout to night out. In keeping with the company’s mission to make health a daily practice for everybody, Oura Ring 4 is also available in a wider range of sizes—now extending from size 4 to size 15. Users will experience upgrades to several features, including Daytime Stress, Automatic Activity Detection, and Cycle Insights, as well as a newly redesigned Oura App.
It delivers up to eight days of battery life on just a single charge, and fully charges in up to 120 minutes, depending on the current battery level. As per the company, compared to its predecessor, Oura Ring Gen3, the new iteration boasts a 30% improvement in overnight SpO2 measurement accuracy and a 15% more precise breathing disturbance index (BDI).
Retail presence
This year, the Finnish company expanded its retail presence globally with new retail partnerships such as Amazon and Target and grew its commercial business with expanded military partnerships, including the Naval Health Research Center (NHRC), the Air Force, and the Defense Innovation Unit.
Further, OURA recently announced the acquisitions of Sparta Science and Veri, a first-of-its-kind partnership with Medicare Advantage provider Essence Healthcare, and a strategic metabolic-health partnership with Dexcom.
Competition in wearable market
Oura was founded in 2013 by Petteri Lahtela, Kari Kivelä, and Markku Koskela. It faces stiff competition from global giants like Samsung and Apple among other companies that have marked their presence in the smartwatch segment. What sets Oura apart is its focus on a unique form factor, a ring instead of a watch, which offers a more subtle and less obtrusive experience, making it appealing to users who prioritise minimalism and comfort. With a price starting at $349, the ring is positioned as a premium offering to those who value health technology.
“As we continue to drive momentum and growth, we are bolstered by the additional support of these investors,” said Tom Hale, OURA chief executive officer. “We’ve made significant progress in advancing our mission to make health a daily practice and will use this funding to unlock new opportunities, with AI development at the center of our strategy. We know that ŌURA has the potential to change lives at scale, and we’re excited to continue leading the market in innovation while pursuing opportunities that extend beyond the ring.”
The post Finnish smart ring maker OURA secures $200M at $5.2B valuation appeared first on Tech Funding News.