According to a Bloomberg report cited by TechCrunch, Oura, the smart ring manufacturer with offices in San Francisco and Finland, is planning a U.S. IPO as early as September that could raise up to $3 billion and value the company at over $16 billion. This valuation represents a significant increase from the $10.9 billion valuation assigned to Oura in September 2023 following a $875 million Series E funding round. The article notes that investors are expected to sell a substantial portion of their stock in the upcoming offering.

The article also highlights the competitive landscape in the wearables market, mentioning Samsung’s Galaxy Ring and Whoop as key rivals. Whoop, which has broadened its target audience beyond elite athletes, saw its valuation rise to $10 billion in March 2024. Oura has similarly expanded its market focus from biohackers to a more mainstream sleep and recovery brand. Additionally, the piece reports that Oura filed confidentially for its IPO in May and projects revenue of nearly $2 billion for 2026, up from $500 million in 2024 and $1 billion in 2025. However, the article also notes a recent class action lawsuit filed in San Francisco alleging that Oura misled consumers about the accuracy of its sleep tracking features, a claim the company has disputed, stating that its sleep staging has been validated against polysomnography in multiple studies.

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This is a summary. Read the original at techcrunch.com.