Oura Launches Ring 5, the World’s Smallest Smart Ring, Ahead of Planned IPO

Finnish-American wearable tech company expands its health-tracking ecosystem as valuation reaches $11bn and global demand continues to grow

Finnish-American wearable technology company Oura Health Oy has unveiled its latest device, the Oura Ring 5, described as the smallest and most advanced version of its smart ring lineup. The launch comes as the company prepares for a potential initial public offering (IPO) later this year.

The new device is 40% smaller than its predecessor and features improved battery life, while continuing to focus on health monitoring metrics such as sleep quality, stress levels, readiness, and heart health. The product aims to further integrate advanced biometric tracking into a discreet, jewelry-like form factor.

Founded in 2013, Oura has sold more than 5.5 million rings globally and operates in over 150 countries. The company has grown rapidly in the wearable technology market, supported by strong adoption among athletes, celebrities, and wellness-focused consumers.

With an estimated valuation of around $11 billion and millions of paying subscribers, Oura is positioning itself as a major player in the expanding smart wearable industry, competing in a space still dominated by smartwatches.

The company is also expanding its software ecosystem with new health insights and predictive monitoring features, aiming to move beyond fitness tracking toward proactive personal healthcare.