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Sofant secures £2.3m funding led by EMV Capital
Sofant secures £2.3m funding led by EMV Capital.
About this update from Emv Capital Plc
[{"type":"text","content":"\n \n \n RNS Number : 9471V\n NetScientific PLC\n 12 August 2020\n \n \n \n \n NetScientific plc\n \n \n (\"NetScientific\" or the \"Company\")\n \n \n Sofant Technologies Ltd secures £2.3m in an oversubscribed funding round led by EMV Capital \n \n \n NetScientific plc (AIM:NSCI), the transatlantic healthcare IP commercialisation group, announces that EMV Capital (\"EMVC\"), a proposed acquisition by NetScientific , reported today that it has led a £2.3m pre-series A syndicated round in Edinburgh-based 5G and Satcom antenna developer Sofant Technologies, with participation by Scottish Investment Bank , Old College Capital, Kelvin Capital Ltd and Wealth Club.\n \n \n This transaction increases assets under advisory by EMV Capital in Sofant by a further £1.6m.\n \n \n The proposal that NetScientific acquires 100% of EMVC undiluted share capital, is to be voted on at general meeting 24 August 2020, as outlined in the Shareholder Circular posted 6 August 2020.\n \n \n The full details of the announcement are set out below.\n \n \n # # #\n \n \n Sofant Technologies Ltd secures £2.3m in an oversubscribed funding round to scale its 5G and Satcom antenna platform\n \n \n Wednesday 12th August 2020\n \n \n EMV Capital led a £2.3m pre-series A syndicated round in Edinburgh based 5G and Satcom antenna developer Sofant Technologies, with participation by Kelvin Capital Ltd, Old College Capital, Wealth Club and Scottish Investment Bank.\n \n \n Sofant, a leader in radio frequency microelectromechanical systems (RF MEMS), is building a proprietary, highly efficient radio technology platform which addresses several challenges facing wireless communication systems. It is initially targeting applications in satellite communications and 5G where its technology reduces the power consumption of electronically scanned antenna arrays by more than 70%.\n \n \n Sofant CEO David Wither said, \"We are very pleased to have supportive investors who understand the value of semiconductor-based hardware. This funding will be used to complete the development of our core RF technology platform. It will also support our activities with an ecosystem of corporate partners who share Sofant's belief that RF MEMS will disrupt the market for high frequency SatCom and 5G antenna applications. It is a very exciting time for Sofant, and we look forward to working ...