Oura Health Oy is set to raise about US$875 million in a series E round, pushing its valuation to nearly US$11 billion, according to sources cited by Bloomberg.

The Finnish company, known for its Oura smart rings, has sold roughly 3 million devices over the past year and 5.5 million in total.

The fundraising is expected to close by the end of September and could exceed US$900 million.

Oura has also secured a US$250 million revolving credit line from banks including JP Morgan Chase, Goldman Sachs, Citigroup, and Barclays.

The company reported US$500 million in revenue in 2024 and projects more than US$1 billion in 2025.

Oura’s largest business customer is the US military, though this represents a small portion of its revenue.

The company’s latest ring launched in Japan and Germany this year.

🔗 Source: Bloomberg