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%.
Sofant CEO, David Wither said: “We are very pleased to have supportive investors who understand the value of semiconductor-based hardware. This funding will be used to complete the development of our core RF technology platform.
"It will also support our activities with an ecosystem of corporate partners who share Sofant’s belief that RF MEMS will disrupt the market for high frequency SatCom and 5G antenna applications. It is a very exciting time for Sofant, and we look forward to working with our partners to change the way high frequency antenna systems are designed and built.”
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.