Activity and sleep tracking ring producer Oura has announced a $28 million series B funding round, which is led by Google's Gradient Ventures, Square, and Forerunner Ventures. The Oura ring monitors pulse, movement, and temperature with infrared LEDs, NTC temperature sensors, an accelerator, and a gyroscope to provide a holistic image of a person's health. The company claims to have sold over 150,000 rings since launching in 2018. Many users believe the ring to be the best wearable sleep tracker currently on the market.
Oura provides a corresponding app which provides users with an overall "sleep score," "readiness" level, and overall activity information, along with a plethora of other additional insights. At this point, Oura's IP portfolio backing the ring is relatively small, with just two published applications, but is likely growing.
Other previous backers of the company include celebrities Will Smith, Shaquille O’Neal, and Lance Armstrong, and the funding will initially support hiring new talent.
