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Sofant secures investment to target smart phone market in Europe and North America


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PRESS RELEASE

October 31st 2013, PRESS RELEASE

Sofant secures investment to target smart phone market in Europe and North America

Pioneering smart antenna will transform performance of smart phones and meet increased demands of 4G and LTE

Sofant Technologies, a UK-based leader in the development of 'smart antenna' technology, has secured significant investment in a deal led by Kelvin Capital along with Scottish Enterprise and the Old College Capital, the investment arm of The University of Edinburgh.

Sofant, creator of the world's first smart antenna to be used in mobile devices. Consuming 90% less energy and doubling battery life, Sofant's SmartAntennaTM is an important milestone in the evolution of the antenna.

The current roll out of new communication protocols, LTE and 4G, is putting ever increasing pressure on legacy antenna technology. Added to that antenna are already unable to cope with consumer expectation to use smart phones to watch TV and stream video while checking emails and posting on social media networks.

Increasing functionality means that every new generation of smart phone performs less well than its predecessor, causing dropped calls, lost signals, weak connections, slow internet and battery drain. Sofant's high performance miniaturised smart antenna will change the performance and user experience of smart phones forever.

Sergio Tansini, CEO of Sofant, says: "This investment is a huge endorsement of our plans for future growth and our groundbreaking technology. Each generation of mobile device brings with it the capability to perform more powerful and sophisticated tasks. Consumers expect the highest standards but conventional antennae inhibit performance. Our SmartAntennaTM will finally unlock the full potential of smartphones and tablets."

The smart phone market is now larger than the PC market with an estimated five billion units to be manufactured over the next five years, over 40 new phones every second. The new funding allows Sofant to meet substantial international demand for smart antenna technology, a rapidly market estimated to be worth more than $2.5 billion by 2020.

The company is attracting widespread interest from smart phone companies in North America. The investment will enable the company to take forward ambitious product development plans and license its designs to global smart phone manufacturers, targeting a turnover of £10m in year five.

A spokeman from Kelvin Capital said: "We are delighted to be supporting such an innovative Scottish technology company as Sofant. The team are addressing a real problem for us all with a ground-breaking solution."

Eleanor Mitchell, director of commercialisation at Scottish Enterprise, said: "We are pleased to see Sofant secure its investment, allowing it to take its groundbreaking technology to market.

"Scottish Enterprise has worked closely with the company, providing an integrated package of support including Proof of Concept funding for the spin-out process, and assistance from our High Growth Start-Up, SMART, Scottish Investment Bank and international teams.

"The company demonstrates Scotland’s increasing ability to successfully commercialise its world class research into viable businesses, helping to ensure long-term sustainable growth for our economy."

Andrea Young, Fund Manager for Old College Capital, said: "Old College Capital is excited to support Sofant and the management team to achieve their long term goals. This investment is typical of the collaborative approach that we take in funding the University of Edinburgh's spin-out companies with very high growth potential."


ABOUT SOFANT TECHNOLOGIES
Based in Edinburgh, Scotland, Sofant Technologies Ltd is a fabless antenna and RF solutions provider, designing and licensing revolutionary smart antenna and tunable RF solutions for leading manufacturers of smartphones and tablets.
Sofant's technology directly addresses key challenges faced by device manufacturers and is anticipated to be a market disruptive solution, boosting the performance and user experience of mobile devices forever.
A global leader in its field, Sofant has created a number of innovative patented technology solutions, specialising in highly compact, reliable, low power 'steerable' antennae and Radio Frequency micro-electro-mechanical systems (RF-MEMS) solutions.
The company is lead by Sergio Tansini, Ahmed El-Rayis, and Tughrul Arslan. Incorporated in 2011, Sofant was spun-out from The University of Edinburgh following seven years of research and development.

ABOUT SCOTTISH ENTERPRISE
Scottish Enterprise is Scotland's main economic development agency and aims to deliver a significant, lasting effect on the Scottish economy. Our role is to help identify and exploit the best opportunities for economic growth. We support ambitious Scottish companies to compete within the global marketplace and help build Scotland’s globally competitive sectors. We also work with a range of partners in the public and private sectors to attract new investment to Scotland and to help create a world-class business environment.

ABOUT OLD COLLEGE CAPITAL
Old College Capital is the investment arm of the University of Edinburgh providing investment into early stage and mid stage spin out and start up companies.