Happy Health raises $75 million for AI-powered sleep apnea smart ring

Happy Health, a startup founded by Dustin Freckleton, has emerged from stealth after raising $75 million in funding since 2019. The company, backed by ARCH Venture Partners and OpenLoop, develops an AI-powered smart ring designed to assist physicians in diagnosing sleep apnea within days.

The device has received Food and Drug Administration clearance and has reached milestones in manufacturing and clinical validation. Beyond the hardware, Happy Health provides a broader care ecosystem where patients can connect with a physician network for diagnoses and prescriptions, such as CPAP machines or dental devices.

Freckleton, who founded the company following his own personal health challenges with stroke and sleep apnea, noted that the platform aims to move beyond simple sleep tracking toward active medical intervention. The system is available for $396 out of pocket, which includes the ring, one year of tracking, and physician consultations, and is often covered by insurance.