EMV Capital participates in £843k funding for 5G and satellite phased array antenna designer Sofant Technologies
26th October 2021
London, UK – 26 October 2021 – NetScientific plc (AIM: NSCI), the international life sciences and sustainability technology investment and commercialisation Group, announces that its corporate finance and venture capital division EMV Capital Ltd (“EMVC“) advised on a £843k fundraise, made up of £300k direct investment from NetScientific, £343k from private clients and £200k matched funding from the British Business Bank through the future fund initiative, into Sofant Technologies (“Sofant“), the leading 5G and Satcom antenna developer based in Edinburgh.
The Group’s participation included partial match funding secured through the Future Fund initiative implemented by the British Business Bank, which has also backed the investment and participated in a 10% convertible loan financing, alongside funding from Scotland-based NewSpace sector investor, Skyrora Ventures.
The investment will provide funding for new patented radio technology solutions which address several major challenges facing wireless communication systems today, including soaring energy costs. The funding also positions Sofant to launch its Series A fund-raise in the coming year, after the demonstration of a commercial antenna module which is currently in development and expected to be completed later this year.
Sofant has patented a highly efficient radio technology platform which provides the UK and Europe with a homegrown, industry-leading technology solution for reducing the power consumption of electronically scanned antenna arrays.
David Wither, CEO of Sofant, commented: “We are very pleased to welcome NetScientific, Skyrora Ventures and the British Business Bank to the growing list of investors who recognize how well positioned Sofant’s technology is to address the biggest challenge faced by the wireless industry as it seeks to make use of the millimetre wave radio spectrum.”
Dr. Ilian Iliev, Managing Director of EMV Capital, and CEO of NetScientific commented: “Sofant has continued to make excellent progress in developing its technology, which we see as a key component of the future wireless infrastructure. We are very pleased to continue supporting the growth of this showcase UK company, and we look forward to being a partner in its upcoming scale-up and commercialisation journey. This investment exemplifies NetScientific’s capital light investment model into exciting technology companies, leveraging EMVC syndication alongside our direct funding.”
For more information, please contact:
|NetScientific||Via Walbrook PR|
|Ilian Iliev, CEO|
|WH Ireland (NOMAD, Financial Adviser and Broker)|
|Chris Fielding / Darshan Patel||+44 (0)20 7220 1666|
|Nick Rome/ Paul McManus/
|07748 325 236, 07980 541 893
or 07884 664 686