ŌURA Challenges Apple With New Partner
Finnish company ŌURA, known for its smart health rings, is partnering with San Diego-based Dexcom, a leader in glucose biosensing. The collaboration paves the way for app integrations that could redefine wearable health tech.
The first app integration from the partnership is expected in early 2025.
“Oura has hit a major milestone today; we’ve announced a strategic partnership with Dexcom, a global leader in glucose biosensing, and a $75 million investment from them, kicking off our Series D funding round that will value Oura at $5 billion,” wrote CEO Tom Hale, who works from ŌURA’s San Francisco office, in a social media post.
The partnership paves the way for the two companies’ devices and apps to be used together, meaning ŌURA rings will eventually help users also monitor their blood sugar.
As part of the agreement, the two companies will also co-market and cross-sell each other’s products.
“Our goals are big and ambitious, but we know they’re possible, especially when we join forces with leading-edge companies like Dexcom. We know that Oura has the potential to change lives at scale, and we’re passionate about our vision to make it a reality,” according to Tom Hale.
This move comes as Apple explores noninvasive glucose monitoring. A Bloomberg report revealed Apple is testing an app for prediabetes management, though the tech giant has no immediate plans to release it.
Having sold 2.5 million rings to date, ŌURA is projected to generate $500 million in annual sales next year. Its partnership with Dexcom marks a bold step in expanding its health-tech offerings.
Founded in 2013 in Finland, ŌURA has offices in Oulu, Helsinki, San Francisco, and San Diego.