Smart ring maker Oura files to go public

In Brief

SpaceX whitethorn person stolen the amusement with its IPO prospectus, but Elon Musk’s aerospace-AI-data halfway institution wasn’t the lone notable concern to record to spell nationalist this week. On Thursday, Finnish astute ringing institution Oura said that it had confidentially submitted a Form S-1 to the U.S. Securities and Exchange Commission successful mentation for an IPO.

Founded successful 2015, Oura has emerged arsenic 1 of the astir fashionable wearable wellness trackers, mounting itself isolated from Fitbit, Garmin and Apple’s watch-like products with a sleek, unobtrusive ring.

The Oura ringing tracks activity, sleep, and regular “readiness,” among different wellness metrics, and contiguous has customers astir the world. At the clip of its Series E past September, Oura said it had sold 5.5 cardinal rings to date, a steep leap from the 2.5 cardinal fig it had reported the anterior year.

That Series E saw Oura raising $875 million astatine a valuation of $11 billion, much than treble the $5 cardinal terms tag it had earned successful a anterior circular successful 2024.

The institution precocious introduced a proprietary AI exemplary geared toward women’s health successful an effort to cater to its increasing basal of women customers.

Subscribe for the industry’s biggest tech news