- Portfolio company Sofant signs contract with the UK Space Agency and European Space Agency and has successful fundraise.
- ProAxsis wins US patent for technology associated with a patented bone-specific enzyme-linked immunoassay.
NetScientific (NCSI: 98p), an investment company that backs early-stage life sciences, healthcare, and technology businesses has announced a raft of news for its portfolio companies.
Sofant, the Edinburgh University spin-out that is developing a state-of-the-art antenna for satellite communications and 5G applications, has signed a $7.3m (£5.4m) contract with the UK Space Agency and European Space Agency. It will support the commercialisation of Sofant’s low-cost, low-power satellite communications platform that requires 70 per cent less power by eliminating the need for complex and expensive cooling systems. By connecting devices wirelessly via a satellite network, Sofant’s terminal also reduces the needs for terrestrial infrastructure and makes it easier for people in rural and remote locations to access the internet. Sofant also completed a £843,000 fundraise, of which £300,000 was made by Netscientific.