Not just a reduced version of the smart bracelet, smart ring Oura completes $100 million in Series C financing

Not just a reduced version of the smart bracelet, smart ring Oura completes $100 million in Series C financing

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According to foreign media TechCrunch, our smart ring company Oura has received US$100 million in Series C financing, and the company’s total financing has reached US$150 million. This round of financing was led by The Chernin Group and Elysian Park, with participation from Temasek, JAZZ Venture Partners and Eisai.

Oura was established in Finland in 2013,It aims to shape a healthier lifestyle through sophisticated and intelligent data monitoring and compact and flexible wearing methods.The company’s products initially stood out with the appearance of the ring, and entered the smart wearable field mainly based on bracelets. Later, it further opened the market with the product characteristics of focusing on sleep monitoring. To date, Oura has sold more than 500,000 rings.

CEO Harpreet Singh Rai has publicly stated: “Wearable devices are transitioning from activity trackers to health platforms that can improve people’s lives. Oura first focuses on sleep, because sleep is a daily habit and is closely related to health, and lack of sleep. It may cause diabetes, heart disease, Alzheimer’s disease, cancer, and mental illness.”

Oura Ring is connected with Oura APP, and the specific sleep data can be displayed in the App, including sleep duration, deep sleep, shallow sleep, rapid eye movement period and other data, and the sleep cycle is displayed in a cycle diagram;In addition, Oura also scores users’ sleep quality and provides suggestions for improvement, just like a real “sleep coach”.

Source: Enterprise’s official website

The material characteristics of Oura ring also distinguish it from other smart wearable devices. With the support of a Finnish health technology company with 30 years of research and development experience, Oura ring is equipped with a laboratory-level water surface monitoring system, activity tracker, heart rate detector, and medical-level pulse oximeter measurement. Therefore, the detection function is not forced to weaken due to the small size of the ring.

In addition to the highly integrated and reliable monitoring function, the Oura ring made of ceramic ceramic has a smooth surface and is harder than steel, which makes this ring waterproof. Users can take it for washing and swimming. At the same time, Oura ring gives users a space for personalized choices. Users can freely choose colors and inlay diamonds and other decorations to create their own smart ring.

In the current situation of the new crown epidemic, Oura is also thinking and developing in terms of epidemic detection.Oura Health cooperated with the Rockefeller Institute of Neuroscience of West Virginia University and the West Virginia University Medical Department to develop a new crown detection system based on Oura ring’s fever sensor. This research can not only measure the incidence of elevated body temperature through Oura ring, but also observe the individual as a whole, combining physiological measurement with psychological, cognitive and behavioral biometrics to sense stress, anxiety, etc., so as to achieve overall assessment and diagnosis . In the case of asymptomatic infection, this holistic approach can provide early assessment and track the physical and mental connections and balance of patients with asymptomatic infection.

The company said that this round of financing will be used for software and hardware research and development and technical staff recruitment, while further increasing marketing and customer experience.

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