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
The Oura Ring hardware is sleek and packed with sensors, allowing it to measure a user sleep patterns, take your body temperature and 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
observer all with expertise in different aspects of the startup business: Forerunner Eurie Kim and Square hardware lead Jesse Dorogusker
are the new board members, and Gradient partner (and former VP of engineering at Google) Anna Patterson joins as the observer.
Oura will be
revamping its website and adding a new web-based portal for Oura Ring users that offers &actionable insights,& the company says, and it
going to be doing more in terms of collaborating with academic researchers on ensuring its products measurements and 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.
