TIDMNSCI
NetScientific PLC
28 April 2021
NetScientific plc
("NetScientific", the "Group" or the "Company")
EMV Capital advised on GBP740k oversubscribed funding round for
5G and satellite phased array designer Sofant Technologies
London, UK - 28 April 2021 - NetScientific plc (AIM: NSCI), the
international life sciences and sustainability, technology
investment and commercialisation group, announces that its
corporate finance and venture capital division EMV Capital Ltd
("EMVC") advised on a GBP740k oversubscribed top-up fundraise for
its Advised Portfolio Company, designer Sofant Technologies
("Sofant").
The fundraise builds on last year's GBP2.3m pre-series A round
for Sofant. Participation in the round included key existing
investors, including Kelvin Capital and the Scottish Investment
Bank. The funding round included a price per share uplift of 40% in
less than one year since its last investment round in July 2020 -
reflecting strong developments at Sofant over the period.
This transaction increases assets under advisory by EMVC by a
further GBP420k to GBP2.7m.
Sofant is currently benefitting from a global wave of investment
to upgrade broad-band satellite communication systems. The company
also expects to benefit from the rollout of high band 5G networks
across the UK and the rest of the world. It plans to use this new
funding to expand its team, as the company accelerates its system
integration with satellite network operators and other final
users.
Since the 2020 investment round, Sofant has developed growing
industry recognition, with support from global manufacturers and
development partners. It has recently hired a CFO to support the
scale-up of commercial activities within the business.
Amongst Sofant's development programmes are prototype antenna
arrays funded by the European Space Agency.
David Wither, CEO of Sofant CEO, commented: "Our engineering
team continues to make significant progress on the development of
our core technology platform. We have made great progress in the
development of an ecosystem of corporate partners who will play key
roles in the commercialization of Sofant's disruptive, low power
antenna technology. This top-up investment will help the company
finalize several initiatives ahead of our upcoming series A funding
round."
Dr. Ilian Iliev, CEO of NetScientific, commented : "Since our
initial investment, we have seen the Sofant team make rapid
progress in this strategically vital technology for the UK's
telecoms sector.
"In the aftermath of COVID-19, supply chain consolidation and
strategic reliability has become a key priority for Western
governments. Sofant is well-positioned as a homegrown, reliable
partner in building safe, reliable and fast connectivity systems.
Importantly Sofant is progressing well, reflecting the increasing
value of the investment within our growing portfolio."
For more information, please contact:
NetScientific Via Walbrook PR
Ilian Iliev, CEO
WH Ireland (NOMAD, Financial Adviser
and Broker)
Chris Fielding / Darshan Patel +44 (0)20 7220 1666
Walbrook PR
Anna Dunphy/ Nick Rome/ Paul McManus/ 07876 741 001 or 07748 325 236
Nicholas Johnson or 07980 541 893
or 07884 664 686
About NetScientific
NetScientific plc (AIM: NSCI) is a holding company, that invests
in, develops, commercialises and realises shareholder value in life
sciences/healthcare, sustainability and technology companies, which
offer significant growth potential predominately in the UK and USA,
as well as globally.
With the acquisition of EMV Capital in August 2020, the Group
doubled its portfolio from 8 to 17 companies, either through direct
subsidiary, balance sheet investment or capital under advisory,
varying from start-up private companies to publicly listed
equities.
NetScientific delivers shareholder returns through a proactive
and hands-on management approach to their portfolio companies;
identifying, investing in, and helping to build game-changing
companies. The Group targets value inflection points and the
release of value through partial or full exits from trade sales,
public listings, or equity sales. The Company has a strong
transatlantic and growing international presence, providing
attractive expansion prospects.
NSCI can deploy a capital-light investment structure; utilising
the power of the PLC Brand, and the NetScientific balance sheet to
anchor future investments and achieve a multiplier effect by
attracting 3rd party investment for the portfolio companies.
NetScientific is headquartered in London, United Kingdom, and
was admitted to trading on AIM, a market operated by the London
Stock Exchange, in 2013 (website: www.netscientific.net).
About Sofant
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.
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