Oura’s $900 million funding round is a new record in Finland: Current valuation $11 billion
The smart-ring maker Oura has raised a $900 million (€777 million) funding round, the largest scaleup investment round ever in Finland. With the round, Oura’s valuation rises above $11 billion (€9,5 billion). Companies valued at $10 billion are called decacorns, and until now Finland has had only one—Supercell, in 2016.
The round was led by the investment management firm Fidelity Management & Research Company. The investment firms ICONIQ, Whale Rock, and Atreides also participated in the round.
Oura plans to use the new funding to accelerate AI and product innovation and expand global distribution. Oura expects to double its revenue to over $1 billion (over €860 million) in 2025.
Oura was founded in 2013, and Tesi made its initial investment in Oura in 2018. Tesi is a shareholder in Oura both directly and through Lifeline’s fund investment. Lifeline was the first fund to invest in Oura.
“Oura is an excellent example of how Finland can grow valuable, global technology leaders,” says Tesi’s Investment Director Joni Karsikas.
“In Tesi’s new strategy we place particular emphasis on scalable growth, and our goal is to see more success stories like Oura in the coming years,” he continues.
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Tesi (officially Finnish Industry Investment Ltd) is a state-owned, market-driven investment company that invests in venture capital and private equity funds and directly in Finnish startups and growth companies. tesi.fi | X (Twitter) | LinkedIn | Instagram | Bluesky | Threads | Newsletter