From Fitbit to Jawbone's Up to the Basis Peak, there are a lot of options if you want a fitness tracker to help you get in shape. But if you're looking to lose weight, what you eat is more important than how much you work out and a new tracker in development – the BioRing - can help you with that.

At first glance, the BioRing seems rather basic. In design, the BioRing looks a little plain – a simple black or white ceramic zirconium band with a similar look to a bland prize from the bottom of a Cracker Jack box. And I've always hated wearing rings. It's why I never got married. (Well that, and I could never find a woman who'd want to spend extended periods of times with me without shooting herself out of boredom.)

But while I'd much rather wear a smartwatch or wristband, the BioRing, if it can do what it promises, would be a revolutionary device.

Unlike a standard fitness tracker which just counts the number of calories you burn off during the day, the BioRing also calculates the number of calories and fat your body consumes.

“When you eat, your food consists of primarily carbohydrates, fats and proteins,” the Sweden-based company's site explains. “Carbs are broken down into glucose, which is transported into your cells with the help of insulin.”

The BioRing sends electric signals into your cells to measure their fluid levels because when you consume more glucose (sugar), the amount of water in them goes down. It also keeps track of how long the glucose levels stay higher than normal – your glucose curve. It sends all this data to an app on your phone so you can read a breakdown of all this information.

So the ring can't tell you how fattening the food is before you eat it, but it can tell you after the fact how much of a pig you've been – which could, theoretically, encourage you to eat healthier as time goes on.

The tracker is currently available through an Indiegogo campaign that has already blown past its US$50,000 goal. The lightweight, waterproof BioRing, which will also monitor your sleep, stress level and heart health, can be pre-ordered for $199 ($100 less than the expected retail price) through the Early Bird pledge perk. It comes with a charging station, quick-start guide and a one-year warranty.

While $199 may seem a little steep for an unreleased device, in concept, at least, the BioRing looks like a great addition to the fitness tracker market. Though I'd prefer a device that tricks my taste buds into thinking celery and cucumbers are nachos and chocolate cake so I could eat healthy without feeling like I was.