Smart ring maker Oura raises $900M from Fidelity

TechCrunch
TechCrunch
2M ago
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Oura has secured $900 million in funding led by Fidelity, valuing the company at approximately $11 billion. This investment is crucial for advancing their health tech offerings and expanding market reach.
Smart ring maker Oura raises $900M from Fidelity
A What happened
Oura, a Finnish health tech firm, has successfully raised $900 million in a funding round led by Fidelity Management & Research Company, bringing its valuation to approximately $11 billion. This funding is intended to bolster Oura's efforts in AI and production innovation, as well as to introduce new health features and enhance global distribution. The company has sold over 5.5 million smart rings since its inception, with a significant portion of sales occurring in the past year. Oura's revenue more than doubled in 2024, reaching $500 million, and the company anticipates crossing the $1 billion sales mark this year. Oura's market share in the smart ring sector exceeds 80%, and it is attracting a diverse customer base, including younger women. Additionally, Oura has launched a new feature allowing users to book blood tests through its app, further expanding its health tech offerings.
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Key insights

  • 1

    Significant funding secured: Oura raised $900 million to enhance its health tech capabilities.

  • 2

    Market leader in smart rings: Oura holds over 80% of the smart ring market share.

  • 3

    New health features introduced: The company launched a blood testing feature in its app.

  • 4

    Revenue growth expected: Oura anticipates sales to exceed $1 billion this year.

Takeaways

Oura's recent funding and strategic innovations position it strongly in the health tech market, enabling further growth and expansion of its product offerings.

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