Elliptic Labs Signs License Agreement with grow platform GmbH, a Bosch company

Elliptic Labs is Chosen to Power New Safety User Experiences for portable security assistant �spexor”

OSLO, Norway–(BUSINESS WIRE)–#AI—Elliptic Labs (EuroNext Growth: ELABS.OL), a global AI software company and the world leader in Virtual Smart Sensors, is announcing a new contract with grow platform GmbH, a Bosch company. This contract will be for the use of Elliptic Labs’ AI Virtual Smart Sensor Platform in grow’s upcoming generation of spexor, a portable security assistant.

Elliptic Labs’ AI Virtual Smart Sensor Platform will employ spexor’s on-device hardware sensors to make the product smarter while adding features like accurate presence detection for better security and safety. spexor has chosen Elliptic Labs due to the ability to deliver higher quality innovations consistently at scale.

grow’s current spexor version offers features such as intruder detection in e.g. homes or vehicles, the ability to measure air quality, and more – all in a small, portable package. Furthermore, it has the potential to detect hazardous gases. The next generation of spexor will continue to offer these features, plus innovative experiences enabled by Elliptic Labs’ AI Virtual Smart Sensor Platform.

“We are excited to work with grow because spexor is already unique and we are proud to make it even more unique and smarter. Customers and partners are choosing Elliptic Labs because we deliver virtual smart sensors that enable wellness monitoring, proximity, presence and gesture detection cost-effectively at scale,” shared Laila Danielsen, CEO of Elliptic Labs.

“We’re looking forward to more collaborations with Elliptic Labs for future products that will truly make a difference in people’s lives,” explained Karsten Roenner, CEO at grow. Also the two founders of spexor, Tobias Riedel and Marko Häckel, are looking forward to the collaboration: “As we are working hard to make spexor not only the first but also the best portable security device in the world, we can rely on Elliptic Labs’ to continually innovate and bring useful user experiences to the market.”

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:
Lars Holmøy

Lars.Holmoy@ellipticlabs.com