Antenna developer Sofant Technologies has secured a £4.2m investment to complete its satellite communications system, alongside signing its first contract in the defence sector.
The Edinburgh-based business raised the cash from existing investors EMV Capital, Kelvin Capital, Scottish Enterprise and the British Business Bank’s Future Fund.
It will use the money 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 claims to use 70% less power than existing systems, which stops antennas from getting too hot.
As well as targeting the satellite communications and 5G mobile telephone markets, the company has secured a contract with a Fortune 500 company to support the development of a tactical communications system.
David Wither, chief executive at Sofant, said: “When Sofant closed the previous funding round we told our investors we would demonstrate our core technology, which occurred in June.
“We 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.”
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 and Sofant will play a significant role in the future of a wide range of wireless communication systems.”
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, added: “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.”
Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.
