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Aura smart ring maker Announce On Tuesday it received a $75 million investment from glucose device maker Dexcom. This investment represents Oura’s Series D funding round and brings the company’s valuation to more than $5 billion.
The partnership paves the way for the two companies’ devices and apps to be used together, meaning Oura Rings will eventually help users monitor their blood sugar.
“Ninety-seven percent of Oura members have expressed an interest in understanding how the food they eat affects their health,” Tom Hill, Oura CEO, said in a press conference. press release. “This partnership with Dexcom will enable us to empower our members to make informed decisions and modify behaviors to positively impact their biometrics and long-term health.”
The first app integration resulting from the partnership is expected to launch in the first half of 2025.
Founded in 1999, Dexcom sells continuous glucose monitors to help people understand the impact of daily lifestyle choices on glucose levels.
“Partnering with ŌURA gives us the opportunity to redefine the category once again, combining data from Dexcom’s glucose biosensors with the ongoing insights and metrics measured by the Oura Ring,” Matt Dolan, executive vice president of strategy and corporate development at Dexcom, said in a statement. . “This powerful combination will attract new subscriber customers who want to better understand the relationship between activity, sleep, nutrition and their glucose.”
As part of the partnership, the two companies will jointly market and sell each other’s products.
Earlier this year, Ora Announce She sold 2.5 million rings. The company also revealed that it expects to double annual sales in 2024 to nearly $500 million and is profitable.
This partnership comes at a time when Apple has been working on non-invasive glucose monitoring for many years. Modern Bloomberg The report notes that the company is testing an app that helps people with prediabetes manage their health. The report notes that although Apple does not plan to release the app, it could incorporate the technology into future products, such as a non-intrusive glucose monitor.
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