Oura, Maker of the Smart Ring, Files for IPO

While SpaceX captured considerable attention with its IPO prospectus, it was not the only significant company preparing to go public this week. On Thursday, Finnish smart ring maker Oura revealed that it had confidentially submitted a Form S-1 with the U.S. Securities and Exchange Commission as part of its IPO efforts.

Founded in 2015, Oura has positioned itself as a key player in the wearable health tracking industry, setting itself apart from competitors like Fitbit, Garmin, and Apple’s wearable gadgets with its sleek, unobtrusive ring design.

The Oura ring tracks multiple health metrics, including activity levels, sleep quality, and daily “readiness,” and boasts a worldwide customer base. In its Series E funding round last September, Oura disclosed that it had sold 5.5 million rings, a notable increase from the 2.5 million reported the previous year.

During its Series E round, Oura successfully raised $875 million, achieving a valuation of $11 billion—more than double the $5 billion valuation it secured in an earlier funding round in 2024.

Recently, the company unveiled a proprietary AI model designed for women’s health, aimed at better serving its growing customer base of female users.