Mips Makes $7.3 Million Investment Into Quin

Quin Raises Series A to Transform Data-Driven Safety for Helmet Brands & More

Helmet technology company Quin has successfully secured $9 million in Series A funding, with significant contributions from individual investors and helmet safety pioneer Mips AB (publ) (“Mips”). Mips has committed $7.3 million to acquire a 25% stake in Quin, a sensor-based technology firm specializing in event detection and data-driven emergency response protocols.

Quin, which has been active in the industry since 2018, specializes in event detection technology, offering proprietary sensor fusion and software solutions to helmet manufacturers. Its unique technology transforms passive gear into intelligent companions capable of identifying safety events, activating emergency response protocols, and connecting distressed individuals with nearby emergency services.

"Quin is excited to partner with Mips, a true pioneer in the helmet industry," comments Anirudha Surabhi, CEO of Quin. "We value the difference Mips makes to the world of safety. Our shared vision and commitment to data-driven safety solutions make this collaboration a perfect combination collaboration to drive new innovations in this field. Quin is constantly innovating to make our sensor capabilities even smarter with new technologies. Mips is strengthening our mission, and we're ready to embrace this new chapter to make safety smarter, better, and more accessible for all."

Max Strandwitz, CEO of Mips, comments, "With this investment, Mips is taking the first strong step into exploring the possibilities of sensor technology in helmets. We are convinced that Quin's proprietary smart technology has many possibilities, and they work with the same consumer-centric approach to help save lives, that has always been at the center of our work at Mips. We look forward to a meaningful, synergistic collaboration and we are happy to bring our competence to support Quin on their exciting journey forward.”

Mips recognizes Quin's expertise in intelligent technology, its mission to prioritize rider safety, and its consumer-focused approach. The partnership offers opportunities for growth and innovation, especially considering their shared customer base. The investment will enable enhanced data collection through high-precision sensor technology and machine learning algorithms, aligning with Mips' broader vision and strategy.

This strategic investment in Quin signifies Mips' interest in the possibilities of sensor technology and supports its mission to advance helmet safety through data and science. Both companies share a common vision of leveraging data and scientific advancements to enhance safety in protective gear and safety systems.

About Quin

Quin is a leading provider of sensor-based intelligence that delivers smart safety solutions. Quin’s proprietary technology helps detect events, gathers crash and impact data and connects riders to responders and nearest emergency services.

Quin was founded in 2017, by Anirudha (“Ani”) Surabhi and Hannah Surabhi. Headquartered in the US, the company today has a development center in India and teams in the US and UK. The “intelligent Quin chip” that turns passive gear smart is the brainchild of Ani, who explored this intersection of intelligence and safety from his time at the Royal College of Arts and Imperial College in the UK. Today, Quin has strong partnerships with a number of the leading providers of helmets and safety gear in the US and Europe. For more information; www.quin.design

About Mips

Mips specializes in helmet-based safety and is a world-leader in this area. Based on an ingredient brand business-model, Mips' safety system is sold to the global helmet industry. The technology is based on over 25 years of research and development together with the Royal Institute of Technology and the Karolinska Institute, both located in Stockholm, Sweden. Mips’ headquarter with 84 employees engaged in research and development, sales, marketing and administration is in Stockholm, where its product and technology test facility also is located. The Mips share is listed on Nasdaq Stockholm. For more information: www.mipscorp.com