Funding to facilitate terminal delivery to key clients in growing SatCom market for commercial and government applications
EMV Capital (“EMVC”), the VC investor specialising in high-growth deep tech companies, is delighted to announce that it has led a c.£3.4m investment round into its portfolio company Sofant Technologies, a leading edge wireless technology company developing next generation phased-array antenna platforms.
The fundraising was led by EMV Capital, syndicated from its cohort of private EIS investors, and joined by Kelvin Capital and Scottish Enterprise. The company is now set to execute its go-to-market strategy, using funds from this investment round to deliver satellite terminals to SatCom operators and their clients in aerospace, defence and security and civilian applications. Sofant has made significant product commercialisation progress, including development contracts with Inmarsat (now part of Viasat), the European Space Agency and a global defence company.
Sofant’s proprietary technology enables operators to enhance their network capabilities and expand service offerings for both commercial and government applications. The company’s proprietary RF MEMS technology facilitates the development of a highly efficient radio platform that directly addresses the most difficult size, weight and power consumption challenges facing future wireless communication systems.
Dr Ilian Iliev, Managing Director of EMV Capital and Sofant Board member, commented:
“We are pleased with the success of this fundraising for Sofant that comes at a critical value inflection point for the company. In line with our capital-light investment strategy, we worked with management and our co-investors to develop the right funding structure for the company as it accelerates development. It is pleasing to see a UK-born semiconductor company make an impact on the global stage as a key enabler for future wireless networks with a growing number of commercial and government applications. We look forward to continuing our important work with the company.”
David Wither, CEO of Sofant, also commented:
“We continue to see strong and increasing interest in our target markets from both customers and prospective new investors. Sofant will use the proceeds from this investment round to deliver fully integrated SatCom terminals to our lead customers for network trials before the end of this year. This milestone represents a key value inflection point and the culmination of many years of development work. We thank EMV Capital and all our investors for their continued support. We look forward to a transformational year, and anticipate the launch of our first SatCom terminal which promises to transform the SatCom industry.’’
About EMV Capital
EMV Capital is an award-winning VC investor specialising in high-growth deep tech companies in the life science, sustainability, and industrials sectors in the UK and internationally.
EMV Capital develops unique investment strategies for each portfolio company, drawing on its EIS fund and extensive network of private investors, family offices, institutions, and corporate VCs. Delivery and successful execution of these investment strategies enables innovative portfolio companies to raise funding to drive transformational growth.
Through its value creation services practice, EMV Capital takes a more active operational role to drive outsized returns for select investments, including business planning, financial modelling, recruitment, and restructuring support.
EMV Capital is a wholly owned subsidiary of NetScientific plc (AIM:NSCI), an AIM-listed VC investment group with a focus on deep tech and life sciences.
For any enquiries, please contact Belvedere Communications:
John West: +44 (0) 207 653 8702
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About Sofant Technologies
Sofant’s satellite terminal technology leads the industry in terms of Size, Weight, Power consumption, and Cost (SWaP-C) enabling mobile connectivity across a wide range of airborne, land, and sea applications including in-flight connectivity (IFC), maritime communications plus communications on the move (COTM) for military and commercial applications. Its low-power passively cooled terminals deliver unparalleled performance supporting multi-orbit connectivity across LEO, MEO, and GEO satellite networks. Sofant ensures that wherever you are, you are connected!
