What are the top wearable technology startups by total funding raised?

Top startups in the Wearable Technology market ranked by total funding raised

Here is an updated table that ranks the top startups in the Wearable Technology market based on the total amount of funding they have raised to date.

The table also includes the total number of funding rounds, the date and size of the latest round, the financing type (e.g. Series A, equity financing), key investors, the startup’s current status (active, IPO, acquired, or shut down), and a confidence score based on the data collected (we excluded startups with very low data confidence, to make sure everything is reliable).

If you need to dig deeper and get more detailed data, please check our report covering the Wearable Technology market.

Which wearable technology startups have raised the most money?

Magic Leap, Oura and WHOOP currently sit far above the rest of the wearable technology funding market, with roughly $3.7 billion, $1.6 billion and $981 million raised respectively in our reconstructed dataset.

The gap appears almost immediately. Rokid, ranked fourth, is at about $480 million, less than half WHOOP's total. Nothing and XREAL are in a similar range at roughly $445 million and $418 million. After that, cumulative funding drops below $400 million.

Across the 91 companies we analyzed, we calculate about $13.1 billion of cumulative equity funding. The first three companies account for roughly $6.3 billion of it. Almost one dollar out of every two represented in the ranking went to Magic Leap, Oura or WHOOP.

The mix at the top is also revealing. Magic Leap came from the first large wave of augmented-reality investment. Oura and WHOOP built health businesses around continuous personal data. XREAL and Rokid are part of today's renewed smart-glasses push. BrainCo and Wispr AI point toward brain-computer and voice interfaces.

There is no single wearable category swallowing all the money. A small group of companies pursuing very large technology platforms is swallowing most of it.

Rank	Startup	Cumulative equity funding in our dataset	Main focus
1	Magic Leap	~$3.7B	Augmented reality
2	Oura	~$1.6B	Smart rings and health
3	WHOOP	~$981M	Fitness and health tracking
4	Rokid	~$480M	AR and AI glasses
5	Nothing	~$445M	Consumer connected devices
6	XREAL	~$418M	AR glasses
7	Mojo Vision	~$363M	Micro-LED displays
8	Wispr AI	~$357M	Voice and neural interfaces
9	BrainCo	~$329M	Brain-computer interfaces
10	XPANCEO	~$290M	Smart contact lenses

Is wearable technology funding concentrated in just a few startups?

Yes. Wearable technology funding is remarkably concentrated today, with our top 20 companies accounting for roughly 83% of all the equity funding represented in the ranking.

The concentration gets extreme at the very top. The first five companies account for approximately $7.2 billion, or about 55% of the total. The top ten represent close to $9 billion, around 68%.

That leaves more than 80 companies competing for less than one-third of the capital in the dataset.

The shape of the ranking helps explain why two apparently contradictory views of wearable technology can both sound convincing. There are dozens of funded startups experimenting with smart clothing, medical patches, sports sensors, earbuds, rings, glasses and neural interfaces. Yet most of the actual dollars have flowed toward a much smaller collection of companies capable of absorbing hundreds of millions.

A startup can have a real product and a healthy business without ever approaching those totals. Stryd, Hexoskin, Shot Scope and Danu Sports operate in recognizable wearable categories with a fraction of the funding attracted by Magic Leap or Oura.

Group	Approx. cumulative funding	Share of our dataset
#1 company	$3.7B	28%
Top 3	$6.3B	48%
Top 5	$7.2B	55%
Top 10	$9.0B	68%
Top 20	$10.9B	83%
Companies ranked 21–91	$2.3B	17%
All companies analyzed	$13.1B	100%

Why has Magic Leap raised so much more money than other wearable startups?

Magic Leap remains the most heavily funded wearable startup in our ranking largely because it spent years trying to build an entire spatial-computing platform, one of the most expensive bets ever made in consumer hardware.

The company had to finance optics, displays, custom hardware, software, manufacturing and developer infrastructure at the same time. Early investors included Google, Alibaba, Andreessen Horowitz, Kleiner Perkins and other large technology funds.

Magic Leap then went through a costly strategic reset. Its original consumer ambitions did not produce the mass adoption investors once expected, and the company shifted toward enterprise uses and technology licensing.

Saudi Arabia's Public Investment Fund became increasingly important during that transition. Bloomberg reported from UK filings that PIF supplied $590 million in 2023 and another $160 million in 2024 through convertible debt arrangements, after having become Magic Leap's majority owner.

That financing history makes Magic Leap unusual even inside wearable technology. Its roughly $3.7 billion total shows how much money investors were willing to spend chasing spatial computing over more than a decade. It does not mean Magic Leap currently has the strongest wearable business.

How much funding has Oura raised, and is it still one of the biggest wearable startups?

Oura remains one of the best-funded wearable companies in the world, with roughly $1.6 billion of cumulative equity financing in our reconstruction and a business that has moved far beyond the normal startup stage.

The company's financing history includes a $200 million Series D announced in late 2024 at a $5.2 billion valuation. Fidelity and Dexcom participated, with Dexcom contributing $75 million as part of a broader partnership around metabolic-health data.

Oura has since moved into a very different phase. The company is currently pursuing an IPO, and its latest SEC prospectus amendment proposes an offering of 50 million shares priced at $40 to $44. At the top of that range, reporting from Barron's put the implied valuation around $15.6 billion.

The operating numbers have also caught up with the funding. Oura's recent filing shows a business with billions of dollars of cumulative product sales, millions of members and positive net income rather than a hardware startup surviving mainly on venture capital.

Oura is one of the clearest examples in this ranking where a huge private funding total has been followed by similarly large commercial scale.

Is WHOOP catching Oura in wearable technology funding?

WHOOP has closed much of the funding gap with Oura, and its $575 million Series G made it one of the biggest current fundraising stories in wearable technology.

WHOOP announced the round earlier this year at a $10.1 billion valuation. Collaborative Fund led it, alongside Qatar Investment Authority, Mubadala, Abbott, Mayo Clinic, IVP and several other investors.

The size is striking in context. A single WHOOP round exceeded the entire lifetime funding of every company below the top three in our dataset.

WHOOP also entered the financing with much more operating scale than it had during earlier venture rounds. Financial Times reporting around the transaction put the company at roughly 2.5 million users and about $800 million in subscription annual run-rate revenue after a strong period of growth.

Oura still leads WHOOP on cumulative equity funding in our reconstruction, but the distance is much less comfortable than the original ranking might suggest. Investors are currently willing to put half a billion dollars into a wearable company when the device sits on top of a large recurring-revenue health platform.

Which wearable startups have raised the biggest rounds lately?

WHOOP, Wispr AI, XPANCEO, BrainCo, RayNeo, XREAL and VITURE have all attracted unusually large recent financings, showing that nine-figure rounds have returned to selected parts of wearable technology.

WHOOP's $575 million Series G is the largest recent disclosed equity round among the leading companies we reviewed.

Wispr AI followed with a $280 million Series B at a $2 billion valuation. XPANCEO raised $250 million in a Series A. BrainCo completed financing reported at roughly $270 million to $290 million depending on currency conversion and source timing. RayNeo raised more than 1 billion yuan, about $143 million at the time. XREAL and VITURE each announced $100 million rounds.

Recent capital has been going toward health platforms, smart glasses, AI voice interfaces, brain-computer interfaces and smart contact lenses. Traditional fitness gadgets and single-purpose accessories are largely absent from the largest rounds.

Several of these companies are also relatively young compared with the historical leaders. Investors are currently willing to move companies into the hundreds of millions of cumulative funding very quickly when they believe the startup could own a new interface.

Startup	Large recent disclosed round	What investors are backing
WHOOP	$575M	Health and performance platform
Wispr AI	$280M	AI voice interface
BrainCo	~$270M–$290M	Brain-computer interfaces
XPANCEO	$250M	Smart contact lenses
RayNeo	~$143M	Connected AR glasses
XREAL	$100M	Consumer AR glasses
VITURE	$100M	XR glasses
Biolinq	$100M	Metabolic-health biosensing

Has the wearable technology funding race changed recently?

Yes. The cumulative leaders remain familiar, but the companies raising money fastest now look very different from the companies that built the ranking during the previous AR and wearable booms.

Magic Leap accumulated its enormous total over many years. By comparison, XPANCEO reached roughly $290 million after only a seed round and Series A. Wispr AI moved above $350 million of cumulative funding after a $280 million Series B. VITURE raised more than $200 million across roughly six months.

BrainCo is another example. A large financing this year brought in IDG Capital, Walden International, Lens Technology and other strategic investors, pushing the company much higher among funded brain-computer interface businesses.

These jumps make the middle of the ranking unusually fluid. A startup sitting around $50 million today can leap past 20 or 30 companies with one serious growth round.

The top of the table moves more slowly. Reaching Magic Leap, Oura or WHOOP requires a financing history measured close to or above $1 billion. Below them, rankings can change fast.

Are smart rings now one of the biggest wearable technology categories?

Yes. Smart rings have become one of the biggest consumer wearable funding categories, mainly because Oura has reached extraordinary scale and Ultrahuman is now attracting larger growth rounds.

Oura alone puts the category near the top of any wearable funding comparison. Its ring has also helped establish a business model where a relatively discreet piece of hardware feeds a recurring health-data subscription.

Ultrahuman is following a broader version of the same idea. The company recently raised $70 million from investors including Qualcomm Ventures, Labcorp, Alpha Wave and Blume. Its own announcement described the company as moving from wearable health toward a broader human-computer interface built around continuous body data.

The business around the ring is what investors are funding. Sleep, recovery, cardiovascular measures, metabolism and other longitudinal health information can keep producing value after the device has been sold.

That is a more attractive venture model than selling a piece of consumer electronics once and waiting for the customer to replace it several years later.

Are smart glasses still attracting more funding than health wearables?

Smart glasses and spatial computing still account for more cumulative funding in our top 20, although health wearables are producing some of the strongest businesses today.

Magic Leap, Rokid, XREAL, VITURE, RayNeo and other XR companies collectively represent several billion dollars of investment. Add XPANCEO's smart-contact-lens project and Mojo Vision's display technology, and the amount devoted to visual computing becomes even larger.

Health companies have a different concentration. Oura and WHOOP dominate, while Biolinq, Cala Health, VitalConnect and Ultrahuman add a second tier of heavily financed businesses.

The distinction becomes more interesting when we compare what the money is buying. Smart-glasses companies often need funding for optics, chips, displays, manufacturing, inventory and developer ecosystems. Health-wearable companies can also face costly hardware development, but the strongest ones increasingly monetize software, subscriptions, clinical services or recurring monitoring.

Glasses still lead on accumulated capital in our ranking, helped enormously by Magic Leap's history. Health wearables currently look stronger when we ask how often very large funding totals are accompanied by established recurring revenue.

Why are investors paying attention to smart glasses again?

Smart glasses are attracting serious money again because AI has finally given lightweight eyewear a clearer job to do.

Earlier AR companies often had to convince people that virtual objects floating in front of their eyes would eventually become a new computing platform. Today's glasses can make a simpler pitch: they can see what the user sees, hear what the user hears and connect that context to an AI assistant.

Hardware has also improved. Displays are getting smaller, processors are more efficient and voice interfaces reduce the need for a large visual field.

The investor mix shows how expectations have changed. XREAL's CEO told Bloomberg that its $100 million financing came partly from supply-chain partners. Awinic invested in Rokid while announcing joint work on chip definition and product development. RayNeo attracted investment vehicles linked to major Chinese telecom operators.

Chip companies want design wins. Telecom operators want connected devices on their networks. AI companies need interfaces beyond phones and laptops.

Smart glasses currently sit where several large technology industries overlap. That is helping money return aggressively.

Is China becoming the center of smart-glasses startup funding?

China has become one of the most important centers of smart-glasses financing, with Rokid, XREAL and RayNeo all sitting high in our wearable technology ranking.

The most interesting part is who is supplying the money. RayNeo's recent financing of more than 1 billion yuan was backed by investment vehicles connected to China Mobile and China Unicom, alongside CITIC Goldstone-linked capital.

According to Caixin, RayNeo plans to use those telecom relationships for distribution, eSIM and 5G technology, AI services and potentially carrier-style bundles. That creates a route to market that a normal venture investor cannot provide.

Rokid has also brought hardware suppliers closer to the company. Awinic's investment came with plans to collaborate from the chip-definition stage through product development.

XREAL's latest $100 million raise similarly included supply-chain partners, according to CEO Chi Xu in a Bloomberg interview.

China's advantage these days goes beyond the number of funded eyewear startups. Financing, manufacturing, components and distribution are increasingly being tied together inside the same deals.

How did XPANCEO raise $250 million in a Series A?

XPANCEO raised a huge $250 million Series A because investors are funding the possibility of an entirely new computing device rather than a normal early-stage wearable product.

The company had previously raised a $40 million seed round. Its Series A then took cumulative financing to roughly $290 million and valued XPANCEO at $1.35 billion.

That is a rare funding profile. Most companies reach a $250 million cumulative total through several venture rounds. XPANCEO crossed it with its second major financing.

The technical ambition explains part of the bet. XPANCEO is developing smart contact lenses that it says could eventually combine extended reality, health monitoring, night vision and other functions. The company reported having developed multiple working prototypes across different capabilities before the Series A.

There is still a huge gap between prototype development and a safe mass-market contact lens. The $250 million round shows just how valuable the upside could be if XPANCEO can compress functions that currently require phones, glasses and health sensors into something worn directly on the eye.

Why has VITURE raised more than $200 million so quickly?

VITURE has become one of the fastest-rising companies in the wearable funding ranking after raising more than $200 million across roughly six months.

The company announced a $100 million financing in late 2025, then followed it with another $100 million round earlier this year led by Legend Capital.

That means the large majority of VITURE's roughly $223 million cumulative funding arrived during one concentrated burst.

VITURE already sells XR glasses rather than asking investors to fund a distant laboratory concept. Its products target gaming and entertainment, giving the company a clearer current consumer market than many earlier AR ventures had.

The speed of the financing is the part worth watching. VITURE has gone from a relatively small entry in the broader wearable landscape to a top-15 funded company in a very short period. Another comparable round could move it into the group currently occupied by XREAL, Rokid and Nothing.

Who are the biggest investors in wearable technology startups right now?

Wearable technology is drawing money from venture funds, semiconductor companies, healthcare groups, telecom operators and sovereign investors, which shows how broad the strategic interest in the sector has become.

WHOOP's latest institutional round brought together Collaborative Fund, Qatar Investment Authority, Mubadala, Abbott and Mayo Clinic. Oura has received capital from Fidelity and Dexcom, while Eli Lilly has also invested in the company.

Qualcomm Ventures appears around consumer-device companies such as Ultrahuman and Nothing. Labcorp joined Ultrahuman's recent financing. RayNeo brought in capital tied to China Mobile and China Unicom. Awinic invested directly in Rokid.

The investors often line up with the technology involved. Healthcare companies are taking positions in continuous health data. Chipmakers want access to future hardware platforms. Telecom companies want new connected devices. Sovereign funds can supply the large checks needed once funding rounds reach hundreds of millions.

Traditional venture capital remains important, but the largest wearable rounds now frequently need investors with something more concrete to offer than money.

Are medical wearable startups raising serious money too?

Yes. Medical wearable startups can raise $50 million to $100 million rounds, especially once a product approaches regulatory approval, reimbursement or large-scale commercialization.

Biolinq raised $100 million in Series C financing in 2025. The round, led by Alpha Wave Ventures, was designed to carry its intradermal glucose sensor through the US regulatory process and toward commercialization.

Cala Health raised $50 million shortly after securing positive Medicare coverage for its wearable neuromodulation therapy for tremor. Investors could see a clearer path from clinical technology to paying patients.

VitalConnect announced $100 million of financing in 2025, although the package mixed equity and debt. Our cumulative equity ranking separates those components where public evidence allows us to do so rather than treating the full headline figure as equity.

Medical wearables tend to raise money around concrete milestones. Regulatory clearance, reimbursement, clinical validation and hospital adoption can each change the economics of the company enough to unlock the next round.

Do giant funding rounds distort wearable technology rankings?

Yes. One giant round can completely change where a wearable startup appears in a cumulative funding ranking.

XPANCEO is the easiest example. About $250 million of its roughly $290 million total came from one financing.

Wispr AI shows the same effect even more clearly. Its $280 million Series B represents most of the capital it has raised to date. RayNeo's largest disclosed recent transaction is also roughly the size of the cumulative figure we can confidently reconstruct from public equity rounds.

VITURE moved through the ranking after two $100 million financings arrived close together.

Two companies with similar cumulative totals can therefore have completely different histories. One may have survived ten rounds over a decade. Another may have received almost everything during the past year.

For readers trying to understand investor conviction, both the cumulative number and the shape of the fundraising history matter.

Does raising more money mean a wearable startup is actually winning?

No. Wearable startup funding tells us how much capital investors committed, while commercial traction has to be checked separately.

Magic Leap is the clearest warning against confusing the two. Billions of dollars financed an ambitious AR platform, but the company's original consumer strategy failed to reach the scale its early valuation implied. It later pivoted toward enterprise products and licensing.

Oura presents almost the opposite case today. After years of private financing, its latest SEC filings show substantial revenue, millions of users and positive net income as the company moves toward the public market.

Nothing provides another useful comparison. Its $200 million Series C valued the company at $1.3 billion, while the company had already surpassed $1 billion in cumulative sales by early 2025 according to its financial adviser Arma Partners.

Funding ranks investor commitment. Revenue, users, margins and retention tell us whether the business built with that money is working.

Which heavily funded wearable startups have actually reached real commercial scale?

Oura, WHOOP and Nothing currently provide some of the strongest evidence that large wearable-related funding can translate into substantial commercial businesses.

Oura's IPO filings make it the easiest company to inspect because private-company opacity is disappearing. The company has reported millions of members, rapid revenue growth and profitability.

WHOOP is still private, but Financial Times reporting around its financing described roughly 2.5 million users and about $800 million in subscription annual run-rate revenue.

Nothing sits slightly outside a pure wearable definition because smartphones remain central to its business, but its connected-device ecosystem explains its inclusion in this market. Arma Partners said the company had surpassed $1 billion in lifetime sales by early 2025, and its $200 million Series C pushed total financing above $450 million according to transaction reporting.

Other highly funded companies remain harder to judge because public revenue data is scarce. That difference in disclosure is worth preserving rather than pretending every $300 million-funded startup has equally visible commercial traction.

How much money does a wearable startup need to enter the top 20?

A wearable technology startup currently needs roughly $140 million in cumulative equity funding to reach the top 20 of our ranking.

OrCam sits around $143 million in our reconstruction, while RayNeo is in a similar range and DigiLens is just below the cutoff at approximately $140 million.

The bar rises quickly from there. Roughly $160 million is enough to reach the mid-teens. Around $220 million gets a company close to the top 13. About $300 million is currently needed to enter the top ten.

Then the distribution opens up. More than $400 million is required for the top six, while the top three begin around the $1 billion mark.

The top-20 threshold is attainable with one large late-stage financing. The top-three threshold requires a completely different funding history.

Approximate funding level	Position it can currently support
~$140M	Around the top 20
~$160M	Around the top 15–17
~$220M	Around the top 13
~$300M	Around the top 10
~$400M	Around the top 6
~$500M	Around the top 4
~$1B	Top 3 territory

Which wearable startups could enter the top 20 next?

DigiLens, Hilo, Bellabeat and boAt are closest to the top-20 funding cutoff, but the fastest climbers may come from farther down the ranking.

DigiLens is already around $140 million in our reconstruction, so even a relatively modest equity round could push it above the current threshold.

Hilo and Bellabeat sit around $120 million. boAt is slightly above $100 million. All three could move several positions with a normal late-stage round.

The more interesting challengers are companies whose recent fundraising pace is much faster than their historical totals suggest. Biobeat added a $50 million Series B in late 2025. Neurable raised $35 million. IXI raised $37 million in Series A financing. Temple entered the market with a $54 million seed round.

At this part of the ranking, one $50 million transaction can matter more than several years of small fundraising. Expect far more movement around positions 15 to 40 than among the three companies at the top.

Which wearable categories attract surprisingly little startup funding?

Sports sensors, smart clothing and specialized performance wearables generally attract far less capital than smart glasses, health platforms and new human-computer interfaces.

Our dataset puts Hexoskin at roughly $8 million, STRIVE around $6 million, Danu Sports around $5 million and Stryd below $1 million in disclosed equity financing. Shot Scope is larger at about $17 million but still sits far below companies developing general-purpose computing interfaces.

These products can solve useful problems without requiring hundreds of millions of dollars. A running sensor or golf tracker does not need to replace the smartphone, build a new operating system or navigate a medical regulatory pathway.

That lowers both the funding requirement and, in many cases, the venture-scale upside investors are chasing.

A lightly funded sports-wearable company may simply have a business that can be built with much less money.

Is wearable technology becoming an AI market?

Increasingly, yes. AI is becoming central to the newest wearable funding stories because investors want devices that can interpret context rather than simply collect sensor readings.

Wispr AI is the clearest example in our dataset. The company has raised roughly $357 million, including a $280 million Series B, around an AI voice interface rather than a conventional fitness device.

Smart-glasses companies are making a similar shift. Rokid increasingly markets glasses around AI assistance. RayNeo is combining visual hardware with connectivity and AI services. Nothing has explicitly said its next phase involves AI-native devices and a more personalized software platform.

Health wearables are moving in the same direction from another angle. Ultrahuman wants to turn continuous physiological measurements into health intelligence. Oura has been expanding AI-driven interpretation on top of its ring data.

Sensors still matter, of course. What investors increasingly pay for is the layer that decides what those sensor readings mean and what the user should do next.

Are wearable startups turning into healthcare companies?

Some of the best-funded wearable startups are moving steadily toward healthcare, although they are taking very different routes.

Biolinq, VitalConnect and Cala Health already operate close to conventional medical-device territory. Their financing is tied to regulatory approval, clinical use, monitoring and reimbursement.

Oura and WHOOP started from the consumer side. Both now have investors and partnerships that bring them closer to healthcare institutions. Dexcom invested in Oura. WHOOP's latest round included Abbott and Mayo Clinic.

Ultrahuman's recent financing adds another version of the same pattern. Qualcomm Ventures brings hardware expertise, while Labcorp connects the company with laboratory diagnostics.

The boundary between a fitness wearable and a health product is becoming harder to draw. Continuous data gathered outside a clinic becomes much more valuable once it can be combined with clinical tests, medical research or treatment decisions.

That convergence is one reason health-related wearable companies can now support funding rounds that once would have looked unusually large for consumer hardware.

What does the wearable startup funding ranking tell us about the market right now?

The funding ranking shows a healthy but highly concentrated wearable technology market, with the biggest money currently chasing health platforms, AI interfaces and smart glasses rather than ordinary connected accessories.

About 83% of the equity funding in our dataset sits inside the top 20 companies. Magic Leap still leads the historical ranking, while Oura and WHOOP have built large health businesses behind their funding totals.

Further down, the direction of new capital has become clearer. Wispr AI is attracting hundreds of millions around voice interaction. XPANCEO has raised a quarter-billion-dollar Series A for smart contact lenses. Chinese smart-glasses companies are bringing telecom and semiconductor groups directly onto their cap tables. Medical wearable companies continue to raise large rounds when regulatory and commercial milestones make the path to market clearer.

As seen above, WHOOP's latest major institutional round also shows how far this market has moved from the first generation of gadget funding: investors were backing an established subscription health platform at a valuation above $10 billion.

Wearable technology funding is currently strong, but selective. Investors are placing very large bets on a small number of companies that could own a major layer of personal computing or continuous healthcare.

The long tail remains full of useful products, yet the funding gap between a successful wearable accessory and a potential platform company has become enormous.