Sofant Technologies, the developer of a low-power smart wi-fi antenna, has secured investment of £519,000 from Kelvin Capital, the Scottish Investment Bank and Old College Capital. It follows a grant last year of £1.5m from the EU’s Horizon 2020 SME programme. The new funding will be used to move into high volume production.
An Edinburgh University spin-out, Sofant’s device has a steerable beam which locks onto the strongest signal available, significantly reducing the cost of operating 5G wireless equipment at the same time as improving performance.
“Mobile data usage is skyrocketing with the likes of WhatsApp, Snap Chat and Netflix and networks are looking for ways to meet the demand,” said Angus Hay, director of Kelvin Capital. “A new generation of low cost, high performance radio and antenna systems are needed to address these challenges and that is what Sofant is on track to do.”
Sofant has been part of the Scottish Investment Bank’s high growth ventures unit. Kerry Sharp, the bank’s head, said “We are pleased to be able to support Sofant with further investment which will allow the company to continue the commercialisation journey for its innovative technology which has global market potential.”