Oura Health, the Finnish smart ring pioneer, has raised over $900 million in Series E funding led by Fidelity Management & Research Company.
This round values the company at around $11 billion, a sharp jump from its $5.2 billion mark in December 2024.
ICONIQ entered as a new backer, with Whale Rock and Atreides adding to the pot. The influx highlights surging interest in AI-enhanced wearables amid booming health tech demand.
Oura: From Finland to Global Health Tech Leader
Oura started in 2013 in Oulu, Finland, founded by Petteri Lahtela, Kari Kivelä, and Markku Koskela.
The trio aimed to create a discreet wearable that tracks vital health metrics like sleep, heart rate, and temperature without the bulk of smartwatches
Today, under CEO Tom Hale since 2022, Oura delivers AI-powered insights for proactive wellness. Users get personalized advice on recovery, stress, and metabolic health.
The company has shipped over 5.5 million rings since 2015. More than half sold in the last year alone, fueled by the Oura Ring 4 launch and new ceramic models.​
Why Investors Are Betting Big?
This round more than doubles Oura's prior valuation in under a year. Revenue hit $500 million in 2024, up 100% from the year before, with 2025 on pace to exceed $1 billion.
Investors see Oura's 80% grip on the smart ring space as a prime bet. Funds will fuel AI upgrades, like advanced health predictions, plus wider global reach and production ramps.
The company recently launched blood testing integration through Quest Diagnostics labs, positioning itself beyond basic fitness tracking.​
Rivals like Samsung and Whoop are closing in with their own smart rings and health features. Yet Oura's vast user data trove builds a strong edge for smarter, tailored features.​
Investment Details
Growth Metrics That Matter
Oura's numbers tell a compelling story. The company has raised over $1.5 billion in total funding across multiple rounds.
With more than 5.5 million devices shipped and commanding 80%+ of the smart ring market, Oura has established clear category dominance.​ The revenue trajectory is equally impressive.
From $500 million in 2024 to a projected $1 billion-plus in 2025, the company is on track for consistent year-over-year doubling. The team has grown to approximately 1,000 employees, with half based in Finland, serving 20+ countries globally.​
Recent Oura Funding Milestones
| Round | Amount | Valuation | Date | Lead Investor |
|---|---|---|---|---|
| Series E | $900M+ | $11B | Oct 2025 | Fidelity Management & Research |
| Series D | $200M | $5.2B | Dec 2024 | Fidelity & Dexcom |
| Series C | $100M | N/A | May 2021 | Various |
| Series B | $28M | N/A | Mar 2020 | Various |
What's Next for the Ring Leader?
Oura must scale fast to hold its lead against tech giants. AI-driven blood test integrations and metabolic tracking signal a shift to full-spectrum health platforms.
Global markets in Asia and Latin America offer huge upside, with expansion plans already underway.​ Profitability looms near.
At $1 billion revenue run rate, Oura eyes positive cash flow soon—a rare win in the hardware game. The company's subscription model, charging $5.99 monthly for premium features, provides recurring revenue that strengthens long-term viability.​
AICurator Analysis
Oura demonstrates exceptional promise in the AI health space. The company scores 9.5/10 for AI innovation with top-tier personalization capabilities, and 9.5/10 for growth momentum with consistent revenue doubling.
Market standing earns 9.0/10 as the clear smart ring leader, while leadership quality rates 8.5/10 with a solid executive track record. The defensive edge scores 8.0/10—data advantages are strong, but tech giants pose real competitive threats.
Connect With Oura
| Platform | Link |
|---|---|
| Website | ouraring.com |
| linkedin.com/company/oura | |
| Twitter/X | twitter.com/ouraring |
| @ouraring |
AiCurator monitors top AI investments and ecosystem shifts. Follow for fresh venture insights and funding breakdowns.
