Elliptic Labs Expands Relationship with Laptop OEM, Announcing Third PoC Agreement

OSLO, Norway–(BUSINESS WIRE)–#AI—Elliptic Labs (EuroNext Growth: ELABS.OL), a global AI software company and the world leader in Virtual Smart Sensors, announced today that it has signed a third contract for a proof-of-concept (PoC) project with one of the top three laptop/PC manufacturers. This agreement features Elliptic�s AI Virtual Smart Sensor Platform on the OEM’s line of Small and Medium Business (SMB) laptops. This PoC project will highlight Elliptic’s AI Virtual Smart Sensor Platform, offering the AI Virtual Presence Sensor to enable the laptop to detect human presence and the AI Virtual Gestures Sensor, enabling the laptop touchless 3D gesture detection.

“Adding more PoCs with this laptop OEM shows the solid progress Elliptic Labs is making in entering new verticals and market response to new products,” said Laila Danielsen, CEO of Elliptic Labs. “Being a software-only solution, Elliptic Labs’ AI Virtual Smart Sensor Platform mitigates ongoing concerns about the tight global supply chain for hardware components and sensors. The AI Virtual Smart Sensor Platform empowers OEMs to offer multiple AI Virtual Sensors in their devices without introducing hardware sensors, giving end-users more for less. Consequently, the interest in engaging with Elliptic Labs from both partners and customers has increased.”

About Elliptic Labs

Elliptic Labs is headquartered in Norway with presence in the USA, China, South-Korea, Taiwan, and Japan. Founded in 2006 as a research spin-off from Norway’s Oslo University, Elliptic Labs filed its IPO with the Euronext Growth Market in October, 2020. Elliptic Labs is now a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. The Company’s patented AI software combines ultrasound and sensor-fusion algorithms to deliver intuitive 3D gesture, proximity, and presence sensing experiences. Its scalable AI Virtual Smart Sensor Platform creates software-only sensors that are sustainable, eco-friendly, and already deployed in over 150 million devices. Elliptic Labs is the only software company in the market that has delivered detection capabilities using AI software, ultrasound and sensor-fusion deployed at scale. Elliptic Labs’ technology and IP are developed in Norway and solely owned by the Company.

Contacts

PR Contacts:
Patrick Tsui

pr@ellipticlabs.com

Investor Relations:
Thor A. Talhaug

talhaug@ellipticlabs.com