Finnish smart-ring maker Oura plans stock market debut with valuation of 150 billion kronor

The Finnish smart-ring manufacturer Oura is reportedly preparing for a stock market listing as early as September, with an expected valuation exceeding 16 billion dollars, equivalent to about 150 billion Swedish kronor.

The company, which specializes in health-focused smart rings, has seen rapid growth in recent years. Its revenue nearly doubled from around 500 million dollars in 2024 to approximately 1 billion dollars in 2025, and is projected to approach 2 billion dollars this year. Oura employs over 900 people and has expanded its product offerings beyond activity and sleep tracking to include AI-driven health services.

Oura’s planned initial public offering (IPO) could raise up to 3 billion dollars, with existing shareholders also expected to sell a significant portion of their shares during the listing. If completed, the IPO would position the company as one of the most anticipated market debuts this autumn.

The company’s valuation surge is notable compared to its last funding round in late 2024, when it was valued at around 10.9 billion dollars. The potential IPO valuation represents a nearly 50 percent increase in less than a year.

However, the company faces a legal challenge just days before its planned market debut. A proposed class-action lawsuit filed in San Francisco accuses Oura of misleading consumers about the accuracy of its sleep-tracking features, particularly regarding how sleep stages are measured. The lawsuit claims that sleep stage data relies on AI-generated estimates rather than precise measurements, though these allegations remain unproven at this stage.

Oura was founded in 2013 in Oulu, Finland, and has positioned itself as a competitor to smartwatches from major brands such as Apple and Samsung. The company’s rapid ascent reflects broader trends in wearable health technology, which has gained traction among consumers seeking alternatives to traditional smart devices.

The timing of Oura’s IPO coincides with a resurgence in stock market listings globally, with traditional U.S. IPOs raising 137 billion dollars so far in 2026, according to reports.

Dagens PS reported the story.