Finnish Health Tech Giant, Oura Health, Secures a Record $875M in Funding
Oura Health, a leading Finnish health technology company, has successfully raised a staggering $875 million in a Series E funding round. This has significantly increased the valuation of the smart ring manufacturer to an estimated $11 billion, nearly doubling its previous worth.
Renowned for its sleep and wellness tracking rings, Oura has sold over 5.5 million devices worldwide. The company is on a steady path to achieve $1 billion in revenue by 2025, a significant leap from $500 million in 2024.
The funding will be instrumental in supporting global expansion, product development, and manufacturing scale-up. This comes at a time when the smart ring market is witnessing unprecedented growth.
Recent data from Circana reveals that smart rings now account for 75% of fitness tracker revenue. This surge is primarily driven by Gen Z and younger Millennials who prefer rings over traditional wrist-worn devices.
Oura’s success story unfolds amidst intensifying competition from tech behemoths like Apple and Samsung, who have also ventured into the smart ring space.