5G And Satellite ‘Smart Antenna’ Designer Sofant Technologies Raises £740k In Oversubscribed Funding Round Led By EMV Capital

By citiesabc news - Apr 28, 2021

‘Smart antenna’ designer Sofant Technologies has completed a follow-on fundraise of £740,000 in an oversubscribed funding round led by venture capital investor EMV Capital.

Business is expected to benefit from UK’s 5G rollout

The fundraise builds on last year’s £2.3m pre-series A round for the Edinburgh-based 5G and satellite communications antenna developer. Participation in the round included key existing investors, including Kelvin Capital and the Scottish Investment Bank.

Reflecting strong developments over the year, the funding round includes a price per share uplift of 40% in under a year since its last investment round in July 2020.

 Sofant is expected to benefit from the rollout of 5G across the UK. It plans to use the new funding to expand its commercial team, as the company accelerates its system integration with satellite network operators and other final users.

About Sofant Technologies

Sofant is the UK’s leader in radio frequency microelectromechanical systems (RF MEMS)-based antennas for satellite and 5G telecoms systems. The company’s proprietary, highly efficient patented radio technology platform provides the UK and Europe with a homegrown, industry-leading technology solution to several major challenges facing wireless communication systems. In satellite communications and 5G its technology reduces the power consumption of electronically scanned antenna arrays by more than 70%, with lower production and maintenance costs compared to other emerging solutions.

Since the 2020 investment round, Sofant Technologies has developed growing industry recognition, with support from global manufacturers and application-specific development partners. Sofant has also hired a new CFO to support the scale-up of commercial activities within the business.

Amongst Sofant’s development programmes are prototype antenna arrays funded by the European Space Agency and the European Commission.

About EMV Capital

EMV Capital is a venture capital investor focused on B2B companies in the healthcare, sustainability and industrials sectors. EMVC’s investments in 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.

Sofant Technologies oversubscribed funding round

Sofant Technologies CEO David Wither said, “This top-up investment is a vital part of the preparation for our series A funding round.

Our engineering team has made significant progress on the development of our core technology platform. We have also built an ecosystem of corporate partners who will play key roles in the commercialization of Sofant’s disruptive, low power antenna technology”.

Dr. Ilian Iliev, Managing Director of EMV Capital commented, “Since our initial investment, we have seen the Sofant team make rapid progress in this strategically vital technology for the UK’s telecoms sector.”

In the aftermath of COVID-19, supply chain consolidation and strategic reliability has become a key priority for Western governments. Sofant is well-positioned to provide this homegrown, reliable partner in building safe, reliable and fast connectivity systems.

HealthTech Start-Up Raises $50mil Series A to Scale Across UK and Europe

May 14, 2021

Bobby Lee Interview – Bitcoin Pioneer, Founder of World’s Longest-Running Crypto Exchange, Author The Promise of Bitcoin

May 13, 2021

MedTech: UK Health and Tech Speakers Announced for the Virtual Market Access Initiative

May 11, 2021

Jewel Okwechime, Business Leader, Board Member VFD Group & Abbey Mortgage Bank –  Education, Global Environment & Business in Nigeria

May 10, 2021

Interview With Artist & Investor Andrea Bonaceto – NFTs And Collaboration With Sophia The Robot

May 07, 2021

Wellness: A Strict Bedtime Routine Following The Pandemic Is Crucial

May 06, 2021

Super Crypto News launches Super Crypto Conference On Blockchain in Southeast Asia With Key Speakers From Novum Alpha

May 05, 2021

NFT.Storage: Preserving the Data of the Multi-Million Dollar NFT Industry

May 04, 2021

Smart City Business Award Went to “Progressive thinking” Cityzenith

May 03, 2021

Global Green Finance Index 7 – Amsterdam Took 1st Place

Apr 30, 2021