Finland-based healthtech company Oura Ring closed a €5 million Series A round. Investors included MIT Media Lab Director Joi Ito, and Jaan Tallinn, Skype’s founding engineer and a cofounder of Kazaa.
Over 75% of the capital came from the US, which is also where the company makes most of its sales. Oura Ring has developed a smart ring along with a mobile app, that tells users how their body is responding to their daily lifestyle choices. Based on physiological data collected by the ring, such as pulse and respiration rate, the app makes recommendations to the user as to what they can do to improve their health.
The company says that in addition to individual users, several universities, research organizations, sleep clinics, and companies are already utilizing data from the app.
Read more: FinSMEs