Sofant Technologies, the Edinburgh-based pioneer in RF MEMS, announced it has successfully raised £3.4 million in additional funding.
The funding, which has come from EMV Capital, Scottish Enterprise and Kelvin Capital, will be used to complete the development of Sofant’s core technology and support the production and shipment of beta versions of its satellite antenna to lead customers.
RF MEMS are microscopic devices that integrate mechanical and electromechanical components to perform RF signal processing functions like phase shifting, switching and tuning.
Sofant Technologies has developed a proprietary, highly efficient radio platform that will reduce the power consumption of future wireless communication systems by more than 70 percent. The company is targeting satellite communications and high frequency 5G/6G applications telecommunications where power consumption and coverage are the most critical challenges.
By drastically cutting power demands, satellite and 5G/6G networks could provide more ubiquitous, affordable, energy-efficient and environmentally friendly wireless connectivity in the future. This is crucial for the anticipated explosion of connected devices and bandwidth-intensive applications.
This latest fundraising round showcases investors' continued confidence in Sofant’s innovative technology and strategic direction.
David Wither, chief executive at Sofant, said, “The continued support of EMV Capital, Scottish Enterprise and Kelvin Capital as the company transitions to the commercialization phase marks a significant milestone in our journey. This achievement underscores the disruptive potential of Sofant’s technology in transforming wireless communication and places Sofant’s technology at the forefront of the industry.”
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.”
Kerry Sharp, director of entrepreneurship and investment at Scottish Enterprise, said, “Sofant Technologies continues to reach impressive technical milestones with its innovative antenna technology. As a longstanding investor, we are excited to see its progress and potential for international growth.”
John McNicol, founder and director at Kelvin Capital, said, “Sofant embodies the spirit of innovation and disruption. The company has delivered on its promises and continues to demonstrate the vast potential of its technology. We are proud to support Sofant as it advances towards commercial success.”