Finnish startup Oura, which has developed a sleek-looking ring designed to monitor body processes and help people sleep better, may have only recently begun their Kickstarter campaign, but they have already soared past their goal of $100K, taking more than $400K from over 1,500 backers two weeks until the deadline.
Oura has designed their ring, made from ceramic zirconia and billed as being waterproof and scratchproof, to use sensors analyze your heart-rate, breathing patterns, and the motion and temperature of the wearer’s finger, offering data on the duration and intensity of the user’s activities with the goal of helping them to sleep more soundly.
The device then tells users, through a companion app (to be released for Android in Q1 2016) what they should be doing at a particular time. One of the nice aspects of the ring is that it is designed to be aware of when the wearer is sleeping, meaning that there is no need to press any buttons to turn it on or off. The device makes use of a Lithium Ion 40mAh battery, which can offer 3 days of charge, Oura says.
When it comes to hardware campaigns, backers typically want to know that they are going to be receiving an actual product and Oura says that they are past the prototyping stage and have moved towards manufacturing the device. And the company says that they are planning to quickly advance to that point upon obtaining the Kickstarter funds, with November set at the goal for shipping to backers. Those who are interested in purchasing the product can currently pay $229 for one black or white ring, a box charger, a micro USB cable, and a member to personal-data platform We Are Curious.
They initially raised funding from several private investors from Finland, the United States, the United Kingdom, and Switzerland, as well as an R&D loan. They also claim technological support from TEKES, the investment arm of the Finnish government.
As with other hardware startups, Oura used the crowdfunding campaign to connect with early adopters in order to rework the product, if necessary, before it and to ramp up production. The startup also says that they used it as a test to see how well they “tell their story”.