The funding was led by Kelvin Capital alongside co-investors to support commercialisation and new licensing partnerships.
"In applications like mobile phones, with companies looking to remove headphone and power connectors, it’s increasingly difficult for musicians and other users to interact with these massively powerful and convenient devices, and with the developments in the next generation of Wi-Fi bringing massive data capability over huge physical areas, the future applications for real time audio streaming over Wi-Fi are vast across music, entertainment and communications"
Kelvin Capital and EMV Capital backed the Edinburgh-based antenna developer to finalise commercialisation of its core technology.
"We are very pleased to have EMV Capital on board and for their help in securing the capital that Sofant needed to finalize the commercialization of our leading-edge RF MEMS technology. Ilian and his team bring a great corporate and investor network, and experience in working with scale-ups. They are pragmatic and results oriented."
The round included participation from Kelvin Capital, Old College Capital, and the Scottish Investment Bank.
"Sofant was very pleased to secure NPI’s support and expand our investor base in this important funding round. We look forward to working with NPI in the future as we take our highly innovative SmartAntenna technology to the next level."
The equity funding will be used to build scanning units and advance the digitisation of archived media.
"At present, nobody fully knows what is there and people are even scared to open old film reels in case they get damaged. Our cost-effective technology can bring millions of forgotten or unseen moments into light, searchable by anyone on any device. Previously we were just thinking in terms of saving archive footage. However, having vast amounts of content without the ability to search it and scrutinise it is almost useless. Now we have a much more in-depth process which in turn makes it usable and more valuable. The potential is limitless, and it could be very personal. For example, in terms of genealogy imagine you could search for footage of war from the place and time where your ancestor served, or find a gig your parents went to decades ago."
