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Oura Ring Maker to Buy $165 Million Digital ID Startup Proxy

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By Edward Ludlow

May 9, 2023 at 1:00 PM UTC

Updated on

May 9, 2023 at 4:47 PM UTC

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Finnish wearable-technology maker Oura Health Oy is acquiring a little-known tech startup, Proxy Inc., which makes digital identification tools, the company plans to announce Tuesday.

The all-equity deal valued Proxy at $165 million, according to a person familiar with the matter. The startup was last valued at $292 million in 2020, according to PitchBook.