“Since our first investment, the Sofant team has made rapid progress in this strategically important technology for the UK telecommunications sector.”
April 28, 2021
Sofant Technologies has completed another £ 740,000 fundraiser in an oversubscribed round of top-ups led by venture capital investor EMV Capital.
The fundraiser builds on Preliminary Round A worth £ 2.3 million for the Edinburgh-based developer of 5G and satellite communications antennas. Key existing investors attended the round, including Kelvin Capital and the Scottish Investment Bank.
Due to the strong developments over the course of the year, the financing round includes a price increase per share of 40% in less than a year since the last investment round in July 2020.
Sofant is currently benefiting from a global wave of investments in upgrading broadband satellite communication systems. The company also expects to benefit from the rollout of high-band 5G networks in the UK and the rest of the world. This new funding is intended to expand the team as the company accelerates systems integration with satellite network operators and other end users.
Sofant is the UK’s leading supplier of radio frequency microelectromechanical systems (RF MEMS) antennas for satellite and 5G telecommunications systems. The proprietary, highly efficient, patented wireless technology platform provides the UK and Europe with a native, industry-leading technology solution to several major challenges faced by wireless communication systems. In satellite communication and 5G, the technology reduces the power consumption of electronically scanned antenna arrays by more than 70% and lowers production and maintenance costs compared to other new solutions.
Since the 2020 investment round, Sofant has developed growing recognition in the industry with the support of global manufacturers and development partners. Sofant recently hired a CFO to help expand commercial activities within the company.
Sofant’s development programs include prototype antenna arrays funded by the European Space Agency.
EMV Capital is a venture capital investor focused on B2B companies in the healthcare, sustainability and industrial sectors. EMVC’s investments in the UK, Israel and the US cover a range of technologies including robotics and AI, machine learning, materials science, IoT, advanced engineering, power electronics and health technology.
David Wither, CEO of Sofant, said:
“Our engineering team continues to make significant strides in developing our core technology platform. We have also made great strides in developing an ecosystem of corporate partners who will play a key role in commercializing Sofant’s disruptive, low-power antenna technology. “This top-up investment will help the company complete several initiatives ahead of our upcoming Series A funding round.”
Dr. Ilian Iliev, Managing Director of EMV Capital, commented: “Since our first investment, the Sofant team has made rapid progress in this strategically important technology for the UK telecommunications sector.”
“After COVID-19, supply chain consolidation and strategic reliability have become a key priority for Western governments. Sofant is well positioned to provide this indigenous, dependable partner in building secure, reliable and fast connectivity systems. “
About Sofant Technologies
Sofant Technologies is a leading wireless technology company based in Edinburgh. The company is using its proprietary RF-MEMS technology to develop an ultra-low power, low cost platform that solves power consumption and heat problems in 5G and satellite communication antenna systems. Sofant uses a fabless semiconductor business model that enables it to leverage long-established, high volume, low cost production methods. This enables Sofant to offer its customers breakthrough performance with guaranteed scalability and low cost.
About EMV Capital
EMV Capital Ltd (EMVC) is an award-winning London-based investor focused on B2B companies in the healthcare, sustainability and industrial sectors. EMVC’s investments in the UK, Israel and the US cover a range of technologies including robotics and AI, machine learning, materials science, IoT, advanced engineering, power electronics and health tech. EMVC’s model is to develop a tailor-made investment strategy for each company, combining the network of investors from family offices, asset managers, institutional VC investors and corporate VC funds. EMVC recognizes the benefits of corporate engagement with early-stage technology companies as the EMVC team has led and structured investments alongside some of the world’s leading companies. If necessary, EMVC can help companies accelerate their investment readiness through its ecosystem of consultants and service providers.
EMV Capital was acquired by NetScientific in September 2020 and remains a wholly owned subsidiary. EMVC was developed by Dr. Ilian Iliev and has a unique multidisciplinary team with expertise in venture investing, industry exposure, corporate development, corporate finance and M&A.
EMV Capital is the exclusive advisor to the EMVC Evergreen EIS Fund. EMV Capital Limited is an appointed agent of Sapphire Capital Limited, which is authorized and regulated by the Financial Conduct Authority.
EMV Capital is the winner of the “Best EIS Newcomer 2018” at the EIS Association Awards and the winner of the “Industry Rising Star” at the Growth Investor Awards 2019.
About Kelvin Capital
Kelvin Capital Ltd is a Scotland-based private mutual fund with over 220 angel investors and a diverse portfolio of 20 private equity firms who have invested over £ 30 million to date.
Share articles on social media or via email: