Quin, a UK-based mobile medical app, has successfully secured its initial £600,000 through its equity crowdfunding campaign on Seedrs. Founded in 2014, Quin describes itself as a female-founded digital health startup that uses science, engineering, and design to help people with diabetes who take insulin to make the “best possible” decisions, about their self-care.
“We’re making an ‘on device’ mobile app that learns how people with diabetes do their self-care and gives them personalised advice to do it better, no matter when they need it. We’re pushing the limits of the platform so that our users can trust we’ll give them the right response, regardless of their connectivity.”
The company further noted that in the past two years, more than 100 people who take insulin have been guiding the mobile app’s R&D. 76% of Quin users feel better about living with diabetes and 35% have improved their HbA1c – healthcare’s target measure.
“We now want to launch Quin and help more people achieve the target with a better quality of life.”
Funds from the Seedrs round will be used for the following:
- Hiring a product designer to enhance the user experience
- Achieving ISO 13485 certification and compliance with new European Medical Device Regulations
- Hiring a marketer and building out our infrastructure and capabilities to acquire and manage thousands of customers after launch
- Developing B2B2C distribution partnerships
- Launching the Quin app in the UK and Europe in late 2020
Through the campaign, Quin is offering 8.16% in equity at a £6,753,763 pre-money valuation. The funding round is set to close at the beginning of April.
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