Oura, the Finnish smart ring maker, has filed to go public, according to a report. The company said its revenue nearly doubled to $1.21 billion for the nine months ended June 30, and that it sold 3.6 million rings over the past year, with around 5 million paid members. The filing follows the launch of the Oura Ring 5, described as its slimmest and lightest ring yet.
But Oura faces growing competition. French company Circular announced that its upcoming Ring 3 series will include an NFC chip for contactless payments and on-finger vibrations for alerts. Chinese firm RingConn launched its Gen 3 ring in May, starting at $349, with features such as vascular health insights and vibration alerts. Samsung, which entered the market in 2024 with the Galaxy Ring, remains a contender for users in its ecosystem, though it lacks some advanced health features offered by rivals.
Ultrahuman, an Indian company, said it raised $70 million with backing from Qualcomm's venture arm. It plans to ship its $479 Ring Pro in the U.S. in mid-September, after a U.S. trade ruling disrupted its earlier imports. The company says future rings will run software directly on the device, potentially enabling AI interactions and games.