Oura Ring, a Finnish startup that develops smart activity and sleep tracking ring, raised $28 million in a Series B funding from Forerunner Ventures, Square, and Gradient Ventures.
The company plans to use the latest funds to expand its team. Additionally, the company is pursuing evolved branding and marketing as well as prioritizing research support with academic institutions to ensure its accuracy and functionality. Dr. Matthew Walker, the British scientist, and professor of neuroscience and psychology at the University of California, Berkeley, will join as Chief Science Advisor.
As part of the investment, Anna Patterson, Founder and Managing Partner of Gradient Ventures, joins Oura as Board Observer.
Founded in 2013, Oura has raised over $45 million to date, including a €5 million ($6 million) funding round in July 2018, which was led by Bold Capital Partners and Tesi.
The Oura smart ring monitors the user’s heart rate, pulse, temperature, and movement to track sleep and delivers a complete picture of their health. And unlike many other health trackers on the market, the Oura ring is not worn on a person’s wrist – instead, it is for the finger.
Oura ring features, temperature sensors, infrared light-emitting diodes (LEDs), an accelerometer, and a gyroscope, and it can last up to one week on a single charge. It records all movements and their respective intensities, from cleaning the floor to running a marathon. The users can access their sleep data through Oura mobile app or third-party apps like Google Fit and Apple Health.
According to Oura, to date, it has sold over 150,000 rings and grown to more than 100 employees worldwide.
Wearable Sensor Technology companies raised $457 million in 2019, according to Mercom Q4 and Annual 2019 Report. Since 2013 Wearables Sensor companies have raised over $3 billion according to our database.
