Hövding to Go Public
MALMO, Sweden – It is seen as one of the most remarkable bicycle accessories developments in the past decade. The Hövding airbag helmet was originally designed as an alternative to ‘unfashionable’ helmets and the company is now ready to take the next step to grow the business.
Hövding will go public next month on Sweden’s First North stock market, Nasdaq’s European growth market designed for small and growing companies. The company is hoping to raise 60 million Swedish krona (6.4 million euro). Reports say that the move already has the support of major investors.
The company was started in 2006, and it took seven years to design the Hövding to crash-standard. Hövding claims to have sold more than 12,000 of its airbag helmets across northern Europe.
Three times more protection
“Bicycle helmets have many drawbacks. Some have even limited protection values to the cyclist,” said Frederik Carling, Hövding’s chief executive in a report in the UK newspaper Telegraph. “Our airbags offer three times more protection. Helmets are designed to break on first impact, whereas ours are designed to take multiple impacts.”
At the moment Hövding employs 20 people and is running its own R&D department with mathematicians, electrical engineers and airbag experts. The Malmo office also houses Hövding design department, customer services, marketing and a finance department.
“In 10 years’ time, the way we know bicycle helmets will not be as they are today. The standard will be airbag helmets, just as airbags in cars have become the standard. Especially in big cities where the cycling infrastructure cannot cope with the rising numbers of commuter cyclists.”