Navigating through delays: VELIA smart ring now targets a Q4 2024 debut

The launch of the VELIA smart ring has faced several delays, pushing back its arrival to eager backers. Delivery is now expected in Q4 2024.

The company spearheading this innovative smart ring successfully raised nearly $2 million on Indiegogo for production purposes. An additional $700,000 was raised on another platform, making it one of the most funded crowdfunding smart rings to date. Over 11,000 individuals backed the product, generating a substantial social community following.

The device actually began its odyssey under the name Iris Ring. It promised a slimmer profile than other available options. But it is its apparent capability to monitor blood pressure directly from the finger that generated most interest. This convenient functionality would offer an alternative to bulky blood pressure monitors, allowing users to track their health discreetly and on-the-go.

Essential reading: Top crowdfunded rings you should know about

It’s important to note, however, that the blood pressure tracking feature won’t be immediately available. But the company assures users it will be added via a future update. So post-launch.

In November 2023, it was announced the smart ring is being rebranded to VELIA. Something to do with another brand having rights to te Iris name. No big deal.

But things are about to get more interesting.

Velia smart ring: A shifting delivery timeline…

The original delivery date was set to December 2023. Following the November name change announcement, the company revised its shipping schedule. It said it is aiming to dispatch the sizing kits in Q1 2024 and the final rings from March 2024. Fine, three or four months late is not a big deal in the crowdfunding world.

But at the end of February the Swiss-based outfit posted another update. They explained that there have been delays attributing it to challenges in completing quality tests and securing funding for materials and manufacturing. The team apologized for the lack of communication, highlighting their recent success in mechanical tests, which VELIA “passed with flying colors, demonstrating exceptional durability and resilience”.

They outlined the next steps towards production, including electrical verification and compliance tests, with an aim to begin shipping by July 2024. Financial hurdles have affected the timeline, but the team says it remains committed to delivering the product and promises more frequent updates moving forward.

About a month ago, the shipping date was been pushed back once again. This time to Q3 2024. The company said in a Youtube video that the money they raised was simply not enough to develop the product. But that they’ve found a solution in terms of raising investments. Which are taking longer than anticipated to materialise.

Latest developments

The good news is that the company has now secured enough finances and the investors have signed a term sheet. So the company is starting the production process. The bad news is that this means yet another shift in the timeline. The sizing kits are now expected to be delivered by beginning of Q4 2024, and the first shipments of the rings should be at the end of Q4 2024. Which means the bulk of backers should get their device in early 2025.

This is a situation that has understandably disappointed the 11,000 plus VELIA’s backers. Delays are common in crowdfunding projects, which differ significantly from purchasing market-ready products due to the inherent lack of guarantees. Nevertheless, the substantial financial support raised offers hope that the company will successfully cross the finish line.

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Ivan Jovin

Ivan has been a tech journalist for over 7 years now, covering all kinds of technology issues. He is the guy who gets to dive deep into the latest wearable tech news.

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