INSUBCONTINENT EXCLUSIVE:
Smart rings are still a relatively young category in the wearable hardware world, but the Oura Ring seems to be a standout in terms of early
track activity, and now Oura has raised $28 million in Series B funding to bring on new key hires and product updates.In a Medium post
announcing the raise, Oura CEO Harpreet Singh Rai revealed that to date, the company has sold over 150,000 of its rings since launch (which
was in early 2018) and that its team has grown to over 100 people globally
The Series B funding comes from Forerunner Ventures, which has a strong track record when it comes to direct-to-consumer product company
investments, as well as from Gradient Ventures and Square.Along with the investment, Oura gains two new board members, and one new board
Dorogusker are the new board members, and Gradient partner (and former VP of engineering at Google) Anna Patterson joins as the
guidance remain as accurate and useful as possible.Oura prioritizes the role of sleep in terms of its contribution to health, and has also
recently ventured into the realm of meditation, but it acts as a general fitness tracking device as well
It has attracted a number of fans among the plugged-in tech elite, too, including Twitter and Square CEO Jack Dorsey
The company deserves kudos for delivering a solid, attractive and feature-rich gadget in a category that seemed like a tough sell in the
early offing, and this new funding is a good vote of confidence.
