Oura, the Finnish maker of wearable health rings, has confidentially filed for an initial public offering (IPO) in New York, according to sifted.eu. The company, valued at around $11 billion last October, has not disclosed the number of shares or price range in its IPO paperwork submitted to the US Securities and Exchange Commission this week.
Oura produces smart rings that track biometric data such as sleep, health, and fitness to help users lead longer, healthier lives. Early investors include Lifeline Ventures and Proxy Ventures, with Iconiq Capital and Fidelity Investments participating in more recent funding rounds. The company reported doubling its revenues between 2023 and 2024 and projects another doubling in 2025, aiming to reach $1 billion in sales driven by growing demand for wearable technology.
This IPO filing highlights Oura’s strong position in the competitive wearable health tech market, where innovation and data capabilities are key differentiators. CEO Tom Hale emphasized the company’s investment in research and development and its extensive data collection as factors that set it apart from rivals. The wearable health sector has seen increasing interest from investors as consumers prioritize health monitoring and wellness technologies.
Oura’s next steps will include finalizing its IPO details and preparing for a public listing in New York. Market watchers will be looking for updates on share pricing and the timeline for the offering, which could provide the company with capital to further accelerate product innovation and expand its market presence.