000-000-0000 [email protected]

Elliptic Labs Admitted to Trading on Merkur Market

Oct 16, 2020News

Oslo, Norway — The global AI software company, Elliptic Labs, has been admitted to trading on Merkur Market (ticker code: ELABS-ME).

Elliptic Labs is on a mission to make every device smarter and more environmentally friendly. It develops super-smart software sensors that sense people and their surroundings, using ultrasound and Artificial Intelligence.

Elliptic Labs has raised NOK 125 million through a private placement, which attracted strong interest from long-term Nordic investors.

“We are pleased with our first reception in the public markets. The offering clearly demonstrates the capital market’s interest in our scalable software platform for the consumer mass market. Our private placement was substantially oversubscribed by a group of quality investors. The company now enters a new phase in its development. We will strengthen the organization, continue to scale up our engineering and sales capacities, and refine our close relationships with our key partners,” says Laila Danielsen, CEO of Elliptic Labs.

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

[email protected]

Investor Relations:

Lars Holmøy

[email protected]