Estonian Siena Secondary Fund acquired a stake in Finnish health tracker Oura Ring

 

Estonian Siena Secondary Fund acquired a stake in Finnish sleep, fitness, stress, and health tracker Oura Ring from earlier investors. According to the general partner of the fund Rando Rannus, the deal size was in its "sweet pot" (optimum size), varying from €1M to €2M.

Founded in 2013 in Oulu (Finland) by Markku Koskela and Petteri Lahtela, Oura Ring tracker monitors and analyses the customer's general body rates (temperature, heart rate, etc.) while he is sleeping or doing an activity. Later, the tracker provides insights about improving the client's health and performance.

Oura Ring’s sleep tracker analyzes deep sleep, light sleep, REM sleep, blood oxygen levels, and others. The user receives a score from 1 to 100, based on how long he spent in each sleep stage, body temperature, and heart rate. The tracker advises on when it is better to go to bed to improve sleep quality. A fitness tracker can detect over 30 activities. For example, it records heart rate during workouts and gives post-exercise insights about body reaction and workout impact. A health tracker analyzes temperature trends, and heart rate variability to warn the user about the high chances of getting sick. For women, the tracker used body temperature rates to predict the day of the menstrual cycle.

The startup has offices in Oulu, Helsinki, and San Francisco with more than 475 employees. The company sold more than 1M rings. 

Founded in 2021 in Tallinn, Siena Secondary Fund provides liquidity for early investors, founders, and employees of growth startups from the "New Nordic" (Baltics & Scandinavia) region. The fund targets companies that are usually post-series A, have a solid business model, and are still in a high growth phase. The founding partners of the fund are Rain Tamm and Lauri Isotamm.