The University of Oslo sensor software spinout has started trading on the Merkur Market, part of the Oslo Stock Exchange.
Elliptic Labs, a Norway-based sensor technology spinout of University of Oslo, has listed on the Oslo Stock Exchange’s Merkur Market.
The company undertook a $13.5m private placement, including $7m subscribed to by cornerstone investors Danske Capital, Aktia Asset Management and Handelsbanken Fonder.
Other existing shareholders to have participated include MP Pensjon, Alden and Passesta, the last of which represents Elliptic’s chairman Tore Engebretsen.
The company has listed nearly 9.6 million shares.
Founded in 2006, Elliptic Labs…
