Elliptic Labs (OSE: ELABS), a global AI software company renowned for its AI Virtual Smart Sensors deployed in over 500 million devices, has announced the signing of a Proof of Concept (PoC) contract with a prominent global Original Equipment Manufacturer (OEM). This partnership aims to leverage Elliptic Labs’ AI Virtual Smart Sensor Platform to deliver groundbreaking user experiences and foster cohesive interactions across the OEM’s product lineup.
Elliptic Labs’ expertise in AI technologies, including ultrasound and sensor fusion, combined with a deep understanding of the smartphone, PC, and chipset markets, positions the company as a pioneer in introducing a revolutionary software-only platform. This platform facilitates effortless consumer interactions across various devices, culminating in a seamless and unparalleled user experience across diverse scenarios.
Laila Danielsen, CEO of Elliptic Labs, emphasized the significance of these collaborations in shaping the future of technology: “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. 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 signifies Elliptic Labs’ expansion into the laptop segment, adding to the already successful deployment of their technology in 18 laptop models currently in the market. This move further solidifies Elliptic Labs’ position in the industry. While continued growth in the smartphone vertical is anticipated, expansion in the laptop market is expected to be the primary driver of Elliptic Labs’ medium-term revenue growth, with a target of reaching NOK 500 million by 2024-25.
Elliptic Labs’ collaboration with this global OEM reflects the ongoing efforts to enhance user experiences and advance technology, marking a significant development in the field of AI-driven virtual smart sensors.
