Tuesday, December 3rd, 2024
Oura Ring continues to make a splash amongst leading fitness trackers through its innovative design as a small, sleek ring that can track a variety of health metrics from heart rate, blood oxygen, daily step count, and sleep patterns. Designed by a Finish tech company, Oura Ring is able to collect these metrics through three different sensors built into the ring. These include, infrared photoplethysmography sensors to track heart rate, negative temperature coefficient sensors to collect body temperature, and 3D sensors to measure body movement.
The ring then projects this data into the Oura app, where users can check the status of their sleep patterns, activity and general ‘readiness’ for the day. This convenient form of fitness tracker has experienced much success since its launch in 2015. Its reported revenue for the financial year of 2024 was close to $500 million, and continued growth is projected to follow.
This growth can be illustrated through the recent announcement by Oura Ring that it received a $75 million investment from glucose device maker, Dexcom. Oura Ring hopes to incorporate Dexcom’s glucose technology into the ring by implementing small biosensors that are able to track users’ blood sugar. The hope is that this new partnership will offer Oura Ring an opportunity to continue to meet the needs of its customers. Specifically, Oura Ring CEO Tom Hale noted in an interview with Forbes, that “Ninety-seven percent of Oura Members have expressed interest in understanding how the food they eat impacts their health”. Thus, incorporating biosensors can help Oura Ring respond to their consumer interests. Oura Ring is projected to integrate this technology into the ring by mid-2025.
Author: Molly Podrebarac, 2024-2025 Articling Student
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