Smart Ring Maker Oura, Backers Seek $2.2B in US IPO

Oura, the maker of a smart ring that tracks sleep, activity, and other health metrics, is seeking to raise $2.2 billion in its initial public offering (IPO) in the US. The company, backed by investors including Accel, Icon Ventures, and Founders Fund, has filed a registration statement with the US Securities and Exchange Commission (SEC). Oura's smart ring, called the Oura Ring, uses sensors to track users' sleep patterns, exercise, heart rate, and other health metrics. The ring is designed to provide personalized recommendations for improvement, and users can view data on their Oura app. Oura has not disclosed the specifics of its funding plans or the number of shares it intends to sell in the IPO. The company has previously raised $193 million in funding, with a valuation of $1.5 billion in 2021. Oura's IPO is expected to be one of the largest tech IPOs of the year, according to Bloomberg.