Smart ring maker Oura plans up to $3 billion US IPO

Oura, the health technology company behind the popular 'Oura Ring' smart wearable, is preparing for a U.S. initial public offering (IPO) with plans to raise as much as $3 billion. The company is targeting a valuation of over $16 billion, a substantial jump from its $11 billion valuation in its last investment round in October.

This move signals Oura's ambition to expand its market presence and potentially challenge competitors like Samsung's Galaxy Ring. The Finnish company, now headquartered in San Francisco, has established a dominant position in the smart ring market, reportedly holding approximately 80% of the global share.

Oura's smart ring, known for its minimalist design and advanced health tracking capabilities, measures over 50 health metrics including sleep patterns, heart rate, and stress levels. The device, measuring just 6.09mm wide and 2.27mm thick, combines ultra-small sensors with AI-driven insights.

The company has also recently launched a pop-up store in Seoul, South Korea, marking its first physical retail presence in the country. This initiative aims to further engage consumers and showcase its wellness technology.