Satellite firm Sofant Technologies raises £6.25m – Daily Business

Sofant Technologies, an Edinburgh-based developer of satellite communications, has raised £6.25m in an equity funding round.

The firm, which recently hired former Virgin Galactic pioner Will Whitehorn as chairman, has been in an extended research and development phase and will use the new funds to prepare a full commercial launch.

The fundraising follows a period of strong technical and commercial momentum for Sofant. Supported by programmes with the European Space Agency and UK Space Agency, Sofant has advanced the development of its next-generation satellite communication terminal, designed to provide users with high-speed, low-latency satellite connectivity.

The technology eliminates the need for complex cooling systems which is a key barrier to scaling modern SatCom and defence platforms.

“This support is a testament to the disruptive potential of Sofant’s technology and the remarkable progress our team has made in recent months,” said David Wither, chief executive.

“With this additional capital, we are positioned to accelerate our commercial deployment and redefine what is possible in wireless communications.”

The investment was led by EMV Capital Partners, with additional participation from Scottish Enterprise. It comprises c.£1.1 million in new equity, conversion of c.£4.7 million in loans, and c.£430,000 in advance subscriptions.

Dr Ilian Iliev, chief executive of EMV Capital, said Sofant’s technology “represents a step-change in the architecture of next-generation wireless systems, with the potential to reshape products across defence, aerospace, satellite communications and high-performance enterprise markets.”

He added: “This investment fits closely with our investment thesis of providing decisive hands-on support at key value inflection points of our portfolio companies, and to help attract strategic finance.

“We look forward to working closely with the Sofant team as they scale into global markets and unlock the significant value we believe this technology can create.”