Oura’s Latest Round of Funding for its Sleep-Tracking Ring Surpasses $20 Million

Oura Smart Ring

Finnish sleep improvement platform Oura Health just surpassed $20 million in a funding round led by MSD Capital with participation from YouTube co-founder Steve Chen, Twitch co-founder Kevin Lin, Sunrise founder Dave Morin, ex-professional basketball player Shaquille O’Neal, actor Will Smith and author Neill Strauss.

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This round comes a couple of years after the company raised $5 million from MIT Media Lab Director Joi Ito and others.

“We are thrilled to have such a talented group of builders, champions and creators join us as investors,” said Harpreet Rai, CEO of Oura Health. “It’s amazing to see how such a diverse group of investors all recognize the universal importance of sleep.”

Oura Health Ltd. was founded in 2013. Oura is the world’s first wellness ring and app that shows how your body responds to your lifestyle by analyzing your sleep, activity levels, daily rhythms and the physiological responses in your body.

It can also detect the body movements and its intensity and direction through devices like a 3D accelerometer and gyroscope and uses three NTC temperature sensors to measure temperature.

Oura Smart Ring

Personalized for you, Oura guides you towards better sleep, recovery and readiness to perform. Oura has users in over 70 countries, and several top universities, research organizations, sleep clinics, and companies are utilizing the data and insights Oura provides. While the company’s headquarters and major manufacturing facilities are located in Oulu, Finland, it has other locations in Helsinki and San Francisco.

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The new sponsorships from so many well-known names will likely substantially impact the company in a positive way. Couple of months ago, Prince Harry made headlines for wearing the ring during a royal tour, reports MobiHealthNews.

“I believe Oura has identified a major challenge that is being faced by almost everyone, for example, getting enough good quality sleep. Oura’s design and technology show amazing craftsmanship, and more consumers around the world will be able to get their own Oura ring now,” said Michael Dell of MSD Capital.