Oslo, 16 October 2020 – The smart sensor company Elliptic Labs has today been admitted to trading on Merkur Market (ticker code: ELABS-ME).
Elliptic Labs creates software-only sensors that are sustainable, eco-friendly, and already deployed in over 100 million devices.
Recently, the company raised NOK 125 million through a private placement. The placement attracted very strong interest from Norwegian and international investors, and was significantly oversubscribed, reported the company.
Elliptic Labs will use the proceeds from the placement to develop its technology and products, in addition to other purposes.
“Our primary technology focus is ultrasound, which doesn’t require any additional hardware. Instead, our software modules reuse a device’s existing speakers and microphones in order to detect motion, proximity, presence, and to provide touch-free gestures”, explains the company on their homepage.
Photo: Thomas Brun / NTB
About Elliptic Laboratories Elliptic Laboratories was founded in 2006 as a research spin-off from the University of Oslo and 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 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 100 million devices. www.ellipticlabs.com