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Oura Health, the health tech company behind Oura Ring, has completed a Series C funding round totaling $100 million.
The round was led by Chernin Group and Elysian Park, the investment arm of the L.A. Dodgers, and included new investors Temasek, JAZZ Venture Partners and Eisai. Returning backers Forerunner Ventures, Square, MSD Capital, Marc Benioff, Lifeline Ventures, Metaplanet Holdings and Next Ventures also participated in the round.
Launched out of Finland by founders Petteri Lahtela, Kari Kivel and Markku Koskela, Oura rolled out its sleep tracking smart ring in 2015. The company, which has its U.S. headquarters in San Francisco, has raised $148.3 million to date. The funding will support R&D (both hardware and software development) and hiring, including additional marketing and customer experience.
May 5, 2021 9:45am
Oura said it will continue to develop within new use cases focused on recovery, activity, illness, mental health and women’s health. Wearable technology also shows promise for helping manage sleep apnea and high blood pressure conditions. (Oura Ring)
During the COVID-19 pandemic, the Oura Ring quickly shifted from being just a consumer wearable to a key research tool for early detection of COVID-19 symptoms.
Oura Health s wellness ring was one of the first wearables used by an academic research institution, the University of California, San Francisco (UCSF), to potentially predict illness symptoms. The company also donated rings to front-line healthcare workers who were likely to be affected by the virus.