$100M in funding for the Oura ring to more develop its features

Oura has received a significant sum in funding, which is going to be invested in many parts of its business, including research, product development and marketing. New investors that participated in the funding round include Temasek, JAZZ Venture Partners, Esai Co., and Elysian Park Ventures, the investment arm of the LA Dodgers.

Oura has developed a sleep-tracking smart ring, which helps people better understand their health and well-being conditions. The ring currently provides its wearers with three daily scores: sleep, activity and readiness. Oura doesn’t have regulatory approval as a medical device but contributes to monitoring health status indicators.

“I don’t think wearables can diagnose or treat yet, but the idea is of an early warning light to go see a medical professional if something is wrong,” says Singh Rai, CEO at Oura.

Read more about the story of Oura.

Source: Text (Forbes), image (Oura)