Sofant, a pioneer in Smart Antenna technology closes a significant investment round backed by Newable Private Investing
Sofant, an Edinburgh based developer of smart antenna technology company, has closed an undisclosed investment round which was backed by Newable Private Investing including Newable Ventures’ SEIS/EIS fund. Other investors in the round included Kelvin Capital, Old College Capital and Scottish Investment Bank.
At a time when the mobile data is exploding and the network operator capacity is limited, the millimeter wave (mmWave) spectrum is critical for network expansion. Sofant is developing a technology that intercepts the mmWave 5G and Satellite markets with its low power, high performance RF MEMS based smart antenna technology which reduces the cost and power consumption of millimetre wave 5G and Satellite devices.
This round of funding will enable the company to start selling its RF MEMS components and smart antenna solutions to wireless handset and infrastructure OEMs.
David Wither, Sofant CEO, comments, “Sofant was very pleased to secure NPI’s support and expand our investor base in this important funding round. We look forward to working with NPI in the future as we take our highly innovative SmartAntenna technology to the next level.”
Anthony Clarke, NPI Managing Director, comments, “as the demand for bandwith continues to grow exponentially, existing communications infrastructure is becoming more and more strained. The technology being developed by Sofant has the potential to address this significant challenge and enable users to access the mobile data bandwith that they demand.”
Newable Ventures Limited (FRN 795277) is an Appointed Representative of Larpent Newton & Co Ltd. Larpent Newton & Co Ltd is authorised and regulated by the Financial Conduct Authority, FRN 141275.”