June 20, 2024

Oura, the Finnish health wearable startup, is suing one of its biggest rivals, claiming it copied its ring device and accessed proprietary information.

The Oulu-based company, which makes the Oura Ring health tracking device and has raised more than €140 million, has filed legal action against Indian company Ultrahuman.

In a lawsuit filed in a court in Texas in early September, Oura accuses Ultrahuman of violating its patents and accessing proprietary information through ex-Oura employees and investors to develop its competing smart ring product.

Oura, which is valued at over €2 billion, has one million users of its ring and has garnered celebrity fans.

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The company has released three iterations of its smart ring to date. It tracks metrics like heart-rate variability, blood oxygen rate and sleep patterns. Unlike wearables like Fitbit wristbands, Oura markets its device as a smaller, more compact product that can do similar tasks but with a sleeker look.

Woman with ring on her finger touching her hair