Elliptic Labs Signs First PoC Agreement for Smart TV Market with a Leading Global Smart TV Manufacturer

OSLO, Norway--(BUSINESS WIRE)--Elliptic Labs (Euronext Growth: ELABS.OL), a global AI software company and the world leader in AI Virtual Smart Sensors, is announcing that it has signed its first proof of concept (PoC) agreement for the Smart TV market with a leading global Smart TV manufacturer. This PoC will entail Elliptic Labs’ AI Virtual Smart Sensor Platform bringing innovative user experiences like presence detection and touchless gestures to the Smart TV OEM’s next generation television products.

Elliptic Labs’ AI Virtual Smart Sensor Platform solution for Smart TV devices provides an innovative contextually aware solution to a new product category. For instance, the AI Virtual Presence Sensor can enable a Smart TV to determine if no one is present, thus allowing it to save power by turning off the screen.

“Elliptic Labs has been making significant progress in attracting the largest OEMs in new consumer electronic verticals. New projects in the laptop, IoT, and now Smart TV space is a strong signal to the value of our AI Virtual Smart Sensor Platform,” said Laila Danielsen, CEO of Elliptic Labs. “Our strong expertise in ultrasound, sensor fusion and AI brings innovative user experiences to new hardware designs while eliminating the ongoing hardware component supply chain concerns. These powerful value propositions cut across multiple markets, positioning Elliptic Labs strongly for future growth and opportunities.”

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.