ANTENNA developer Sofant Technologies has secured a £4.2 million investment to complete its satellite communications system, alongside signing its first contract in the defence sector.
Sofant raised the cash from existing investors EMV Capital, Kelvin Capital, Scottish Enterprise, and the British Business Bank’s Future Fund.
Sofant will use the cash injection to complete the development of its satellite communications terminal, which is due to be unveiled next year.
The company aims to revolutionise wireless communications systems using its combination of technology, antenna design, and machine-learning algorithms.
Its technology uses 70% less power than existing systems, which stops antennas from getting too hot.
As well as targeting the satellite communications and fifth-generation (5G) mobile telephone markets, the company has secured a contract with a Global Fortune 500 company to support the development of a next-generation tactical communications system.
David Wither, chief executive at Sofant, said: “We are very pleased to have investors who understand the disruptive nature of Sofant’s technology. When Sofant closed the previous funding round we told our investors we would demonstrate our core technology, which occurred in June of 2022. Sofant will use the proceeds from this investment round to build a satellite communications terminal in 2023 which targets mobile applications, with commercial sales expected to begin later in the year.”
Mr Wither added: “I am also excited to announce that the company has secured its first commercial deal with a leading defence contractor. The war in Ukraine has highlighted the critical importance of communications to national security.
“Sofant will play a significant role in the future of a wide range of wireless communication systems and its value is already being recognised by industry leaders. Finally, I would like to thank the entire Sofant team, which is working tirelessly to ensure the widespread adoption of our innovative technology platform.”
Kerry Sharp, director of entrepreneurship and investment at Scottish Enterprise, said: “It’s fantastic to see Sofant Technologies reaching these significant technical milestones with its globally competitive, innovative antenna technology with the potential to radically change how we communicate. We’ve worked with the company since it was a spin out back in 2013, and look forward to continuing to support its international growth ambitions.”
John McNicol, founder and director at Kelvin Capital, said: “Investors love disruptors, and Sofant is the perfect example of why disruptors have so much potential. The company has already delivered on the promises it made during its previous funding round, which is what’s given our syndicate the confidence to invest in the business again.
“Reducing the power and cost of communications systems is vital to unleash the potential of digital technology, bringing benefits for businesses and their customers around the world. Sofant demonstrates Scotland at its best – taking scientific breakthroughs from our world-class universities and developing them into practical applications for our everyday lives.”
Ilian Iliev, managing director at EMV Capital, added:
“We are delighted with Sofant’s tremendous progress in their development roadmap. They continue to make a key contribution to the UK’s space tech and telecoms sectors by developing a key component for increased resilience and energy efficiency in SatComs and other telecommunications systems.
“We also congratulate Sofant on their first commercial agreement with a leading defence contractor, as global awareness of the critical importance of communications to national security increases. We expect Sofant to play a significant role in future communication systems and are very pleased that its value is already recognised by industry leaders.”
