Sofant Technologies secures $3m in oversubscribed funding round
EMV Capital led a £2.3m pre-series A syndicated round with Edinburgh-based, 5G and Satcom antenna developer, Sofant Technologies, with participation by Kelvin Capital Ltd, Old College Capital, Wealth Club and Scottish Investment Bank.
Provider of radio frequency microelectromechanical systems (RF MEMS), Sofant is building a proprietary, highly efficient radio technology platform which addresses several challenges facing wireless communication systems.
It is initially targeting applications in satellite communications and 5G where its technology reduces the power consumption of electronically scanned antenna arrays by more than 70%.
Dr. Ilian Iliev, Managing Director of EMV Capital commented: “We are delighted to continue supporting our portfolio company, Sofant, which has made great progress with their disruptive technology in an exciting market. Reliable and fast connectivity has never been more important for our society - which has only become clearer in response to the impact of COVID-19. Sofant are well positioned to build on their development and growth to provide a key enabling technology for this future.”
Sofant Technologies plans to use this funding to integrate RF MEMS technology into a 1st-generation product, accelerate system integration with satellite network operators, and to capitalise on OEM collaboration interest.