News Summary

Oura Health Oy, the company behind the Oura health and fitness ring, is raising $875 million in a Series E funding round, which could potentially exceed $900 million, according to Bloomberg. This new round values the company at approximately $11 billion, doubling its previous valuation from the Series D round last year. The company has experienced significant growth, selling 5.5 million rings to date, and is expected to generate over $1 billion in revenue this year. Oura plans to utilize the funds to scale production, enhance international expansion, and invest in product development, with recent growth driven by female consumers and international market expansion.