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Elliptic Labs Is Recipient of EU Horizon 2020 SME Instrument Phase 2 Grant

Apr 15, 2019News

Elliptic Labs is the proud recipient of the EU Horizon 2020 SME Instrument Phase 2 grant of € 2.1M.
Oslo, Norway — Elliptic Labs is the proud recipient of the EU Horizon 2020 SME Instrument Phase 2 grant of € 2.1M. Horizon 2020 is the financial instrument implementing the Innovation Union, a Europe 2020 flagship initiative aimed at securing Europe’s global competitiveness.

The SME instrument is part of the Enhanced European Innovation Council pilot (Enhanced EIC pilot) under Horizon 2020. It is specifically designed to support breakthrough innovation projects from small and medium enterprises with high market-creating potential. The SME Instrument Phase 2 funding is highly competitive. In general, less than 5% of applications are able to successfully secure the grant after an extensive two-stage evaluation by panels of technology and business experts.

Elliptic labs’s winning proposal is titled ‘Scale-up of INNER MAGIC™ and INNER REFLECTION™: Virtual Ultrasound Sensors™ for Smart Devices’ (IMIR-UP). The aim of the IMIR-UP project is to fully mature our award-winning and patented technology for easy, mass-scale (“plug-n-play”) deployment in any consumer electronic smart device without requiring supplemental hardware (software only). Bringing our innovative IMIR products to the mass market will positively disrupt existing touchless sensing technologies, resulting in an improved user ability to intuitively interact with their smart devices via a natural extension of normal human behaviour.

INNER MAGIC, INNER REFLECTION, and Virtual Ultrasound Sensors 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 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 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. It filed its IPO with the Euronext Growth Market in October 2020.

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.

PR Contacts:

Patrick Tsui

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Investor Relations:

Lars Holmøy

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