Sleep-tracking ring Oura raises more than $20 million in funding

Oura Health is a sleep-tracking platform that helps in improving the sleep cycle. The company has raised more than $20 million in a funding round. The round wasorganized and led by MSD Capital with participation from many high-profile executives like Steve Chen,YouTube co-founder, Kevin Lin, co-founder of Twitch, Dave Morin, who is the founder of Sunrise and others.

Oura is a smart ring; a wearable device that tracks the sleep habits to help the users get better sleep. It is used to measure the blood volume pulse from the palmar arteries. It also detects the body movements and its intensity and direction through devices like a 3D accelerometer and gyroscope and uses three NTC temperature sensorsto measure temperature.

“I believe Oura has identified a major challenge that is being faced by almost everyone, for example, getting enough good quality sleep.Oura’s design and technology show amazing craftsmanship, and more consumers around the world will be able to get their own Oura ring now,”saidMichael Dell of MSD Capital.

Many companies in the past have come up with devices that help people deal with their sleep habits and sleeping issues. Hence, how successful the product turns out to be is still a question.

Oura Health’s wearable ring is presently being shipped to over 100 countries.