Oura Eyes September IPO at Over $16 Billion Valuation
· Business · TechCrunch, Bloomberg
Smart ring manufacturer Oura is planning to raise up to $3 billion in a US IPO as soon as next month, targeting a valuation above $16 billion. The San Francisco and Finland-based company, which employs over 900 people, filed confidentially for an IPO in May. Existing investors are expected to sell a significant portion of stock during the offering. This follows a September funding round that valued the company at $10.9 billion after an $875 million Series E backed by Fidelity, ICONIQ, Whale Rock, and Atreides. The wearables market features increased competition from rivals such as Samsung, which launched the Galaxy Ring, and Whoop, which recently reached a $10 billion valuation.
Why it matters
This IPO marks a major milestone for the smart wearables sector as consumer health tech companies transition to the public markets.
Read the original report — TechCrunch
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