GoKawiil
Tech News
Oura officially filed for an IPO on September 3, reporting revenue nearly doubling to $1.21 billion over nine months and 3.6 million rings sold to about 5 million paid members. The filing comes just after the launch of its slimmer Oura Ring 5, even as competitors like Circular, RingConn, and Ultrahuman roll out rings with tap-to-pay, haptics, and onboard software.
Ultrahuman, a rival to Oura in the smart ring market, secured $70 million from investors including Qualcomm Ventures, Labcorp, Alpha Wave and Blume to fund development of next-generation AI wearables. The company plans to use the funding to advance sensing, materials, electronics and algorithms, and is exploring a future ring that could work with devices like Meta's smart glasses for gesture control, according to chief business officer Bhuvan Srinivasan.
Indian wearable maker Ultrahuman has closed a $70 million funding round backed by Qualcomm Ventures, Labcorp, Alpha Wave, Blume Ventures, Nexus Venture Partners and Alteria Capital, valuing the company at $365 million—roughly three times its 2023 valuation. The round includes $65 million in equity and $5 million in debt, and Ultrahuman is now developing a new ring built on Qualcomm silicon instead of its current Nordic Semiconductor chip.
Ultrahuman has introduced Pulsomics, an opt-in research program inside its app that lets Ring AIR and Ring PRO owners aged 18 and up contribute their sleep, glucose, and VO2 Max data to improve the company's wellness algorithms. The program currently covers three studies, with more planned around cardiovascular load and long-term sleep tracking, and requires only that users wear their rings as usual.