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Oura banks $100M as adoption of wearable technology accelerates during COVID-19

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.

Oura Raises $100M in Series C Funding

ŌURA Health, an Oulu, Finland-based provider of a health tech wearable that provides daily personalized sleep and overall health insights, raised $100m in Series C funding. The round, which brought total funding to $148.3m, was led by The Chernin Group and Elysian Park, the investment arm of the LA Dodgers; Temasek, JAZZ Venture Partners, and Eisai Co., Ltd.; growth investors Bedford Ridge and One Capital, as well as existing investors Forerunner Ventures, Square, MSD Capital, Marc Benioff, Lifeline Ventures, Metaplanet Holdings, and Next Ventures.  The company intends to use the funds to invest in all areas of business, including Software and Hardware Development, People, Research & Development, Marketing, and Customer Experience.

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