Funding Round attributes
ŌURA, a Finnish health technology company renowned for its smart ring that monitors sleep and activity, has secured $75 million in a Series D funding round. The investment was led by DexCom, a prominent glucose monitoring company, which also announced a strategic partnership with ŌURA.
Founded in 2013, ŌURA has developed the Oura Ring, a wearable device that tracks various health metrics, including heart rate, activity levels, sleep patterns, and stress indicators. The company has sold over 2.5 million rings and is projected to double its sales to $500 million in 2024, with a valuation exceeding $5 billion.
The partnership with DexCom aims to integrate continuous glucose monitoring data with the health metrics tracked by the Oura Ring. This integration is expected to be available through respective apps in the first half of next year, providing users with comprehensive insights into how their activities, such as sleep and exercise, correlate with glucose levels.
Tom Hale, CEO of ŌURA, stated, "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."
The $75 million investment from DexCom is part of a broader strategy to expand ŌURA's global presence and enhance its health data integration capabilities. The collaboration reflects a growing trend of bringing medical diagnostics into daily life, enabling users to monitor vital signs and make informed health decisions.
This funding round follows ŌURA's recent acquisition of Veri, a Helsinki-based startup specializing in metabolic health solutions. The acquisition aims to bolster ŌURA's offerings by providing users with more in-depth data on the effects of their diet, further enhancing the Oura Ring's capabilities.
ŌURA's strategic initiatives, including the partnership with DexCom and the acquisition of Veri, underscore the company's commitment to advancing personalized health monitoring and expanding its footprint in the global health tech market.
