Smart ring maker Oura has hit an $11bn valuation after raising $900m in fresh funds, as the Finnish scaleup continues to ramp up revenue growth.
The Series E round was led by Fidelity Management & Research Company with participation from new investor ICONIQ, Whale Rock and Atreides.
The raise sees Oura, which makes wearables that allow users to track their biometric data, become one of Europe’s highest valued startups, doubling the $5.2bn valuation it hit after picking up $200m across two rounds less than a year ago.
Founded in 2013, Oura has sold more than 5.5m ring devices since its product launched in 2015, with more than half of those sales occurring in the past year alone.
The company reported revenue of more than $500m in 2024 — doubling its growth from the prior year — and is targeting $1bn in annual sales in 2025.
Today, our technology supports consumers, employers, insurers and clinicians working together to advance preventive health at scale,” says CEO Tom Hale.
“With this investment, we will accelerate innovation, expand our global reach, and set a new standard for what wearables can achieve in advancing preventive health.”
The new capital will be put towards scaling manufacturing, further product development and global expansion.
