TIDMNSCI
RNS Number : 9471V
NetScientific PLC
12 August 2020
NetScientific plc
("NetScientific" or the "Company")
Sofant Technologies Ltd secures GBP2.3m in an oversubscribed
funding round led by EMV Capital
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 GBP2.3m 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.
This transaction increases assets under advisory by EMV Capital
in Sofant by a further GBP1.6m.
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.
The full details of the announcement are set out below.
# # #
Sofant Technologies Ltd secures GBP2.3m in an oversubscribed
funding round to scale its 5G and Satcom antenna platform
Wednesday 12(th) August 2020
EMV Capital led a GBP2.3m 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.
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%.
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 with our partners
to change the way high frequency antenna systems are designed and
built."
Dr. Ilian Iliev, Managing Director of EMV Capital commented, "We
are delighted to continue supporting our portfolio company, Sofant,
which has made great progress with their disruptive technology in
an exciting market. Reliable and fast connectivity has never been
more important for our society-which has only become clearer in
response to the impact of Covid-19. Sofant are well positioned to
build on their development and growth to provide a key enabling
technology for this future."
Sofant Technologies plans to use this funding to integrate
leading edge RF MEMS technology into a 1(st) -generation product,
accelerate system integration with satellite network operators, and
to capitalise on leading OEM collaboration interest.
Ends
About Sofant Technologies
www.sofant.com
Sofant Technologies is a leading-edge radio technology company
based in Edinburgh. The company is applying its proprietary RF MEMS
technology to develop an extremely low power, low cost platform
which solves power consumption and heat problems in 5G and
satellite communications antenna systems. Sofant employs a fabless
semiconductor business model which enables it to leverage long
established high volume, low cost production methods. This
positions Sofant to offer its customers game-changing performance
with guaranteed scalability and low cost.
About EMV Capital
www.emvcapital.com
EMV Capital Ltd (EMVC) is a London-based venture investor
focused on B2B companies in industrial high-tech, energy, circular
economy, smart cities, transportation, and healthcare. EMVC's
investments in Europe, Israel and the US cover a range of
technologies including robotics and AI, machine learning, materials
science, IoT, advanced engineering, power electronics and medical
devices. EMVC can help companies fast-track their investment
readiness through its ecosystem of global corporations, advisors,
and service providers.
EMVC's multidisciplinary team holds expertise in venture
investment, corporate development, corporate finance and M&A.
EMVC understands the importance and value of environmental
sustainability and ethical investment principles, reflecting this
within its investment thesis.
EMV Capital is an exclusive advisor to the EMVC Evergreen EIS
Fund ( http://emvcapital.com/eis_fund/ ).
EMV Capital Limited is an appointed representative of Sapphire
Capital Limited, which is authorised and regulated by the Financial
Conduct Authority.
About Kelvin Capital
www.kelvincapital.com
Kelvin Capital Ltd is a Scottish based, private investment fund,
with over 220 angel investors and a diverse portfolio of 20
investee companies having made investments of over GBP30 million to
date.
About Old College Capital
www.oldcollegecapital.co.uk
Old College Capital (OCC) is the University of Edinburgh's
in-house venture investment fund. It aims to support the
University's research, staff and students by investing in
high-growth, early stage businesses associated with the
University.
# # #
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014. Following the
publication of this announcement, this inside information is now
considered to be in the public domain.
For more information, please contact:
NetScientific
Ilian Iliev, CEO Tel: +44 (0)20 3514 1800
WH Ireland (NOMAD, Financial Adviser and Broker)
Chris Fielding / Darshan Patel Tel: +44 (0)20 7220 1666
MO PR ADVISORY (Press Contact)
Mo Noonan Tel: +44 (0)78 7644 4977
About NetScientific
NetScientific PLC is a transatlantic healthcare IP
commercialisation Group focused on technologies and companies that
have the potential to treat chronic disease and significantly
improve the health and well-being of people.
For more information, please visit the website at www.NetScientific.net
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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