OSLO, Norway--(BUSINESS WIRE)--#AI--Elliptic Labs (OSE: ELABS), a global AI software company and the world leader in AI Virtual Smart Sensors™ currently deployed in over 500 million devices, has announced a new PoC contract with a global OEM leveraging its AI Virtual Smart Sensor Platform delivering ground breaking user experiences enabling new cohesive interactions across the product lineup.

Our AI technologies – including ultrasound and sensor fusion expertise – combined with our deep understanding of the smartphone, PC and chipset markets, enable Elliptic Labs to deliver compelling user experiences. We are the first to introduce a revolutionary software-only platform that facilitates effortless consumer interactions across a multitude of devices, culminating in a seamless and unparalleled user experience across all scenarios.

“Elliptic Labs continues to collaborate and expand our presence with all the leading OEMs. We stand at the brink of a transformative journey where AI, sensing, and device-to-device interoperability transcend data capture, allowing for ubiquitous sensing solutions. At the heart of this transformation lies our AI Virtual Smart Sensor Platform,” said Laila Danielsen, CEO of Elliptic Labs. “The value gained from strategic partnerships between our customers and Elliptic Labs becomes essential for the customer to deliver seamless user experiences while adding stickiness to their ecosystem.”

The PoC contract represents yet another Laptop expansion across the four globally leading OEMs on top of the 18 laptop models currently launched in the market. Elliptic Labs has achieved a distinct position within the industry, and while continued growth in the smartphone vertical is expected, expansion in the laptop market will be the main driver of Elliptic Labs’ medium-term exponential revenue growth to NOK 500 million in 2024-25.

AI Virtual Smart Sensor, AI Virtual Proximity Sensor, and AI Virtual Smart Sensor Platform are trademarks of Elliptic Labs.

All other trademarks or service markets are the responsibility of their respective organizations.

About Elliptic Labs

Elliptic Labs is a global enterprise targeting the smartphone, laptop, IoT, and automotive markets. Founded in 2006 as a research spin-off from Norway’s Oslo University, the company’s patented software uses AI, ultrasound, and sensor fusion to deliver intuitive 3D gesture, proximity-, presence-, breathing-, and heartbeat-detection experiences. Its scalable AI Virtual Smart Sensor Platform creates software-only sensors that are sustainable, human-friendly, and already deployed in hundreds of millions of devices around the world. Elliptic Labs is the only software company that has delivered detection capabilities using AI software, ultrasound, and sensor fusion deployed at scale. The company joined the Oslo Børs main listing in March 2022.

Elliptic Labs is headquartered in Norway with presence in the USA, China, South Korea, Taiwan, and Japan. Its technology and IP are developed in Norway and are solely owned by the company.

Contacts

PR Contact:
Patrick Tsui

[email protected]

Investor Relations:
Lars Holmøy

[email protected]