£800,000 funding support
Syndicates back Sofant’s 5G technology
Jackie Waring: ‘easy decision’ (photo by Terry Murden)
Mobile communications company Sofant Technologies has secured nearly £800,000 in an over-subscribed funding round from a group of angel syndicates.
Kelvin Capital, Newable, Investing Women have joined with Old College Capital and Scottish Investment Bank to back the Edinburgh-based company.
Sofant Technologies has developed ground-breaking technology that will be key in the introduction of 5G mobile data and satellite markets.
It has been led since early last year by CEO David Wither, a serial entrepreneur with 20 years’ experience in the radio frequency and wireless industry.
This will put the company in a position to launch a Series A funding round later this year to finalise the commercialisation of its technology.
Mr Wither said: “The Sofant team now has the support it needs to take our leading edge technology to the next level.”
Jackie Waring, CEO of Investing Women said: “It was an easy decision to back Sofant as they are a great business at the forefront of developing cutting edge mobile technology.”