Ouraring closes €5M Series A
Oulu, Finland • San Francisco, CA • November 30, 2016 Ouraring, the developer of the world’s first wellness ring and corresponding app, ŌURA, announced that it has closed €5M ($5,3M) in a Series A funding round. Over 75% of the capital came from US investors.
“We are passionate about helping ŌURA users learn how their body responds to their lifestyle and what they can do to improve their sleep, health, and performance,” said Petteri Lahtela, CEO & Co-Founder of Ouraring. "We live in a world where we’re constantly asked to push harder and stretch our boundaries. ŌURA wants to change that. Your mental and physical readiness to perform varies significantly from day to day. Some days are perfect for challenging your body and mind whereas on other days your focus should be more on recovery. When you balance your daily load with this essential data you can ensure optimal performance, stay healthy and even increase your capacity - like top athletes do."
ŌURA currently has users located in over 50 countries. About two-thirds of its users are in the US. In addition to individual users, several top universities, research organizations, sleep clinics, and companies are already utilizing the rich data the ŌURA provides.
"ŌURA has a very visible product at an interesting intersection between health, technology and fashion. The company is riding several growth trends that make its success almost inevitable, specifically miniaturisation, battery improvements, and Moore's Law. ŌURA has a highly capable engineering team, led by effective management, they have created a product that is best in class for wearables." said Jaan Tallinn, a founding engineer of Skype and Kazaa, a co-founder of the Cambridge Centre for the Study of Existential Risk (cser.org) and the Future of Life Institute (futureoflife.org), and active investor.
There are only a few places on the body where people are likely to wear a wearable, smart device.The finger is better positioned when compared to the wrist for collecting physiological data. The arteries on the finger have a stronger signal strength than veins on the wrist, thus providing more accurate data and enabling a longer battery life. ŌURA uses the data it collects alongside established science and technological innovation to help people understand how their body responds to their daily choices. Based on each user's physiological responses, ŌURA will provide meaningful, personalized, and actionable guidance.
Ouraring is a health technology company founded in 2013. The company’s HQ and major manufacturing facilities are located in Oulu, Finland. Other locations include Helsinki, San Francisco (CA), Boulder (CO) and New York City. The company’s first product, ŌURA wellness ring and app, was launched in 2015. In addition to the CES 2016 Best of Innovation award, the product has received among others the Fitness Award of the American Women’s Health Magazine in May 2016.