Oura ring maker raising $875M Series E, bringing valuation to $11B, report says

Oura, the company behind the popular health-tracking Oura ring, is reportedly raising $875 million in a Series E funding round, which would bring the company's valuation to $11 billion, according to a recent report. The company, known for its smart ring that tracks various health metrics, is expected to generate over $1 billion in revenue this year, doubling its 2024 revenue of $500 million. This significant growth has attracted the attention of investors, who are now pouring in substantial funding to support Oura's expansion and product development. The Series E round is aimed at further strengthening Oura's position in the wearable technology market, where it competes with other prominent players. The additional capital will likely be used to enhance the company's research and development efforts, improve its product offerings, and expand its global reach to meet the growing demand for its health-tracking solutions.