Smart ring company Oura is moving to raise up to $3 billion (about 4.1 trillion won) through an initial public offering (IPO).
According to Bloomberg on the 25th (local time), Oura is considering listing as early as next month with a valuation of more than $16 billion (about 22.1 trillion won). That would be about 45% higher than the $11 billion valuation at the time of its fundraising in Oct. last year. During the listing process, existing investors are also said to be likely to sell a significant portion of their shares. However, because discussions are ongoing, the size and timing of the offering could change.
Oura has shown rapid growth recently. According to the company, cumulative sales have surpassed 5.5 million units since the product launched in 2015. Revenue, which exceeded $500 million in 2024, is estimated to have roughly doubled to around $1 billion in 2025. The Oura Ring measures heart rate, temperature, and activity from the finger to analyze sleep, stress, and physical recovery. In addition to device sales, securing recurring revenue through a paid subscription service is also cited as a reason for the high valuation.
Legal disputes have emerged as a variable ahead of the IPO. A California resident in the United States filed a class-action lawsuit on the 21st, claiming harm because the Oura Ring does not measure sleep stages accurately. Oura said it will respond to the lawsuit, noting that multiple studies comparing the device with polysomnography have verified its accuracy.
Founded in Finland in 2013, Oura officially entered the Korean market on the 18th. In Korea, it competes in the smart ring market with products such as Samsung Electronics' "Galaxy Ring."