Oulu, Finland-based ŌURA, a maker of the smart ring, on Tuesday, November 19, announced that it has secured $75M (approximately €71M) in a Series D funding round at a valuation of $5B (approximately €4.7B) from California-based DexCom, a company specialised in glucose biosensing.
In addition to funding, the Finnish company also partnered with DexCom to help people improve their metabolic health by integrating Dexcom glucose data with vital signs, sleep, stress, heart health, and activity data from Oura Ring.
This integration enables data to flow between Dexcom and ŌURA products, including Dexcom glucose biosensors, Dexcom apps, Oura Ring, and the Oura App.
The first app integration resulting from the partnership is expected to launch in the first half of 2025.
“Dexcom offers the most accurate glucose biosensing systems on the market that help reveal the impact of daily lifestyle choices on glucose levels and enable our users to make informed decisions about their health and overall well-being,” says Matt Dolan, executive vice president of strategy and corporate development at Dexcom.
“Partnering with ŌURA gives us the opportunity to redefine the category again, integrating data from Dexcom glucose biosensors with the continuous insights and metrics measured by Oura Ring. This powerful combination will attract new shared customers who want to better understand the link between activity, sleep, nutrition, and their glucose,” adds Dolan.
The announcement comes after the Finnish company announced that it has sold 2.5 million rings, expects to see annual sales double in 2024 to roughly $500M, and is profitable.
The company has launched a new feature called Meals in Oura Labs, allowing users to track their meal timing and connect it to their chronotype. This feature helps illustrate how meal timing and choices can affect sleep, stress, and recovery.
Oura Ring: Pioneering health and wellness
Founded in 2013 by Kari Kivelä, Markku Koskela, and Petteri Lahtela, Oura Ring is a smart ring fitted with sensors to measure users’ sleep patterns, track their activity, and measure their body temperature.
The smart ring provides users with actionable insights to optimise their health and performance through sleep, activity, readiness, stress, resilience, women’s health, and heart health.
“Ninety-seven per cent of Oura Members have expressed interest in understanding how the food they eat impacts their health,” says Tom Hale, ŌURA chief executive officer.
“This partnership with Dexcom will enable us to empower our members to make informed decisions and adjust behaviours to positively impact their biometrics and long-term health. Working together, ŌURA and Dexcom will help members decide what and when to eat by surfacing correlations between activities like sleep and exercise and members’ glucose levels. And because we know that people are affected differently by the same foods and activities, guidance and insights will be personalised,” adds Hale.
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