Connected rings: the startup Oura resists despite the arrival of Samsung on its market

© Oura

As the year draws to a close, rumors are growing about the announcements that Samsung will make at its next event, which could be held in January. The Korean giant will, of course, present its new Galaxy S25 series. But according to rumors, it could also present its new Galaxy Ring 2 connected ring.

As a reminder, Samsung entered the smart ring market this year and became a competitor to the Finnish startup Oura, which is the benchmark in the field. Oura was founded in 2013 and, like many projects of the time, debuted on the crowdfunding platform Kickstarter. In 2024, some observers wondered how the arrival of a giant like Samsung in its niche would affect this startup.

For its part, the brand had reacted with this press release: “We’re encouraged by the growing awareness of smart rings as more people recognize the unique benefits of this form factor. We’ve been in this space for over a decade, serving both Android and iOS users, and have built on our foundation of sleep and recovery tracking to expand into categories like women’s health, heart health, and stress and resilience.” In other words, for Oura, Samsung’s arrival is a validation.

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A $5.2 billion startup

For now, it’s clear that despite the arrival of Samsung’s smart ring, Oura is doing well. This December, it also announced a new Series D fundraising round. Oura raised $200 million, with the participation of Fidelity Management & Research Company and Dexcom, a world leader in glucose biosensing. And now, the company's valuation has reached $5.2 billion. The funds raised will allow Oura to improve its products and technologies, but also to make acquisitions.

Furthermore, according to the startup, this funding round follows a phase of strong growth for the company. Recently, Oura has passed the 2.5 million smart rings sold mark. The number of subscribers (since Oura also sells services to users of its rings) and revenues have also reportedly doubled. “This year, ŌURA has expanded its retail presence globally through new partnerships with retailers such as Amazon and Target, and has grown its commercial activities through expanded military partnerships,” the startup also states.

What is the interest of smart rings ?

For now, the smart ring market is a small niche. However, sales could explode in the coming years. Indeed, if smart watches already offer health and wellness tracking features, smart rings offer something similar in a more compact format. For example, some consumers might opt ​​for the connected ring to avoid having to carry around a connected watch, or to benefit from health monitoring while wearing a classic watch.

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