Tallinn-based Siena Secondary Fund has obtained a stake in Ōura Ring, a health tech scaleup renowned for its smart ring technology with over one million rings shipped worldwide. The obtained secondary stake originates from a pre-existing investor, with the specific amount of the transaction being currently undisclosed, but reliable sources say it is in seven figures. This acquisition brings strategic alignment, expertise, and potential new opportunities for the scaleup’s growth and development in the health tech industry. And is also Siena’s first investment in Finland.
Headquartered in Oulu, Finland, Ōura Ring is designed to monitor various aspects of users’ well-being, including sleep patterns, physical activity, and overall health. By gathering data and insights from users’ daily routines, the scaleup aims to provide individuals with valuable information that can help them make informed decisions about their lifestyle and health habits. In 2021, Ōura raised a series C round of $100 million and a follow-up round in spring 2022 at a valuation of $2.5B which has helped to accelerate its growth.
“We are thrilled to be part of the Oura Ring journey, a company at the forefront of revolutionising personal health and wellness,” said Rain Tamm, General Partner of Siena Secondary Fund. “Being myself a dedicated user of the product for several years I believe that Oura Ring’s commitment to data-driven insights and its exceptional product offering align perfectly with our vision for the future of healthcare technology. This investment signifies our belief in the company’s ability to drive positive change in people’s lives.”
Specializing in secondary market dealings within late-stage startups exhibiting high growth, Siena Secondary Fund facilitates liquidity for initial investors, former employees, and founders. The fund has acquired stakes in several scale-ups such as Bolt, Testlio, Starship Technologies, Veriff, Kry, TransferGo, Printify and Booksy.
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