Finnish startup <\/span>Oura\u00a0has closed its Series<\/a> D funding round at $200mn, bringing the smart ring maker\u2019s valuation to a cosy $5.2bn.<\/span><\/p>\n Oura\u2019s smart ring uses 20 biometric markers to track sleep, physical activity, and stress resilience. The device displays this data on an app<\/a> that gives you a personalised \u201creadiness\u201d score. <\/span>We tested the wearable earlier this year<\/span> and were genuinely impressed.\u00a0<\/span><\/p>\n Founded in 2013, <\/span>Oura\u00a0secured its first funding on Kickstarter, the crowdfunding site, in 2016. Counting this new tranche of capital, the tech startup has raised $550mn since inception.<\/span><\/p>\n \u201cWe\u2019ve 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 centre of our strategy,\u201d said Tom Hale, Oura\u2019s CEO.<\/span><\/p>\n How Startup Amsterdam Boosts Innovation and Growth at TNW Conference<\/p>\n Discover how the City of Amsterdam partnered with TNW to amplify its startup ecosystem, attract global talent, and foster innovation that drives economic impact.<\/p>\n<\/div>\n<\/div>\n In 2022, Oura<\/span>\u00a0became a unicorn and sold its millionth ring. Two years on, the company claims to have recently sold its 2.5 millionth device and to have made $500mn in sales this year alone.\u00a0\u00a0\u00a0<\/span><\/p>\n \u201cWe know that <\/span>Oura\u00a0has the potential to change lives at scale, and we\u2019re excited to continue leading the market in innovation while pursuing opportunities that extend beyond the ring,\u201d said Hale.<\/span><\/p>\n Oura said it signed partnerships with key retailers such as Amazon and Target this year. The ring is especially popular with celebrities \u2014 including Prince Harry, Gwyneth Paltrow, and Jennifer Aniston. <\/span>Even the Pentagon made a $96mn order in October to put the devices in (or should I say \u201con\u201d) the <\/span>hands of soldiers<\/span><\/a>.<\/span><\/p>\n While sales of smartwatches<\/span> flatline<\/span><\/a>d this year, s<\/span>mart rings are surging in popularity. Global smart ring sales are set to almost double from an estimated 1.7mn by the end of 2024 to 3.2mn in 2028, market intelligence firm IDC<\/a>.\u00a0 <\/span><\/span><\/p>\n For many users, <\/span>they\u2019re seen as a more convenient option to smartwatches like the AppleWatch but still contain many of the same features. Smart rings also tend to move less and fit better against the skin.\u00a0\u00a0<\/span><\/p>\n Smart ring makers sold 880,000 units in 2023, said IDC<\/span>. The <\/span>Oura\u00a0Ring made up<\/span> 80% of these sales, soaring above competitors like Ultrahuman and Samsung. <\/span><\/p>\n By those figures, Oura genuinely does seem to be the current lord of the (smart) rings. Sorry, I couldn\u2019t help myself.\u00a0<\/span><\/p>\n \u200b\u200b<\/span>Fidelity Management led the funding round, which also saw the participation of Dexcom, a German provider of glucose monitoring sensors for diabetes patients. <\/span><\/p>\n<\/p><\/div>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more like this article, you can visit our Technology category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n
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