Finnish wearable startup Oura bags €25.5M to update its health and sleep tracking ring

Smart rings are in the nascent stage right now in the wearable market segment. One startup that makes such smart rings is Finland-based Oura and it has been quite successful in the same. Founded in 2013 by Kari Kivelä, Markku Koskela, and Petteri Lahtela, this startup develops Oura Ring wearable hardware.

The Oura Ring is sleek and is fitted with sensors so that it can measure users’ sleep patterns, track their activity, and measure their body temperature. It won’t be an exaggeration to say that it is one of the potentially game-changing wearables in the market right now.

Raises €25.5M funding

In a recent development, the Finnish wearable startup announced that it has raised $28 million (nearly €25.5 million) Series B funding led by Google’s Gradient Ventures, Forerunner Ventures, and Jack Dorsey’s Square. The company will use the funding to bring product updates and make new hires.

Besides the investment, Oura announced that it has appointed two new board members – Eurie Kim from Forerunner and Jesse Dorogusker from Square. Also, Anna Patterson from Gradient has joined as a new board observer.

New web-based portal in plans

In addition to the changes to the board, Oura will also revamp its website with the new investment. And, it has announced that there will be a new web-based portal for Oura Ring users. This portal will provide actionable insights, claims the company. Also, it will collaborate with academic researchers to ensure product measurements and guidance are accurate and useful.

Oura Ring: An insight!

The Oura Ring is a titanium ring featuring NTC temperature sensors, infrared LEDs, a gyroscope, and an accelerometer. This smart ring that registers all the movements of users and their respective intensities can last up to one week on a single charge. Users can view their data from the Oura mobile app, which gives insights about their daily activity.

Main image picture credits: Oura

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