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Oura is going public, but these smart ring companies are coming for its crown
Confirmed
In Short: Oura, a leader in the smart ring market, has filed to go public, selling 3.6 million rings over the past year and boasting around 5 million paid members. However, the market is heating up as competitors like Garmin, Ultrahuman, and Circular are also gearing up with new products.
According to reports, Garmin is preparing to enter the smart ring market, with model numbers suggesting 10 different ring sizes, likely indicating a range of variants for the same product. Meanwhile, Ultrahuman, backed by Qualcomm’s venture arm, is aiming to build a ring capable of running software directly on the device.
Other companies are also making moves. French company Circular has announced a ring that allows users to tap to pay, while Chinese company RingConn has debuted a ring with haptic vibrations. Indian company Ultrahuman, which previously faced a patent dispute with Oura, is now looking to build a ring that can power AI interactions and games.
As the smart ring market becomes increasingly crowded, Oura is not waiting around. The company is expanding its presence and preparing for the competition, with plans to go public and continue dominating the market despite the emerging rivals.
What's confirmed
What's still developing
- Last month, a product called the CIRQA Smart Ring briefly made an appearance on an Indonesian certification database, before getting pulled from that public filing.
- Garmin entered the screenless fitness tracker market this year by releasing the CIRQA Smart Band.
- It would be strange if these 10 variants were smartwatches.
- However, it would make much more sense if they were smart rings, since smart rings aren’t adjustable like smartwatches are.
- Disrupt 2026: OpenAI, Anthropic, Replit, and more take over 6 industry stages. 25% off tickets now Back by popular demand: Save up to $300 on Disrupt The smart ring market is getting crowded, and Oura isn’t waiting around to see what happens next: it officially filed to go public on September 3.
- Oura said it sold 3.6 million rings over the past year, and that it has around 5 million paid members.
- All of this is to say that the smart ring market is getting increasingly confusing, so we’ve rounded up the most notable contenders vying for Oura’s crown.
- Earlier this year, Ultrahuman unveiled its third-generation smart ring, the $479 Ring Pro, which is set to begin shipping in the U.S. in mid-September.