Don't invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.
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Due to the potential for losses, the Financial Conduct Authority (FCA) considers this investment to be high risk.
What are the key risks?
- You could lose all the money you invest
- If the business you invest in fails, you are likely to lose 100% of the money you invested. Most start-up businesses fail.
- You are unlikely to be protected if something goes wrong
- Protection from the Financial Services Compensation Scheme (FSCS), in relation to claims against failed regulated firms, does not cover poor investment performance. Try the FSCS investment protection checker here.
- Protection from the Financial Ombudsman Service (FOS) does not cover poor investment performance. If you have a complaint against an FCA-regulated firm, FOS may be able to consider it. Learn more about FOS protection here.
- You won’t get your money back quickly
- Even if the business you invest in is successful, it may take several years to get your money back. You are unlikely to be able to sell your investment early.
- The most likely way to get your money back is if the business is bought by another business or lists its shares on an exchange such as the London Stock Exchange. These events are not common.
- If you are investing in a start-up business, you should not expect to get your money back through dividends. Start-up businesses rarely pay these.
- Don’t put all your eggs in one basket
- Putting all your money into a single business or type of investment for example, is risky. Spreading your money across different investments makes you less dependent on any one to do well.
- A good rule of thumb is not to invest more than 10% of your money in high-risk investments.
- The value of your investment can be reduced
- The percentage of the business that you own will decrease if the business issues more shares. This could mean that the value of your investment reduces, depending on how much the business grows. Most start-up businesses issue multiple rounds of shares.
- These new shares could have additional rights that your shares don’t have, such as the right to receive a fixed dividend, which could further reduce your chances of getting a return on your investment.
If you are interested in learning more about how to protect yourself, visit the FCA’s website here.
| Type: | EIS |
|---|---|
| Sector: | Technology |
| Target return: | 10x |
| Funds raised / sought: | £7.75m / £11.5m |
| Minimum investment: | £22,677 |
| Next application deadline: | 29 May 2026 for first close |
Important documents
| Type: | EIS |
|---|---|
| Sector: | Technology |
| Target return: | 10x |
| Funds raised / sought: | £7.75m / £11.5m |
| Minimum investment: | £22,677 |
| Next application deadline: | 29 May 2026 for first close |
Important documents
| What Wealth Club has done | What to expect post-investment |
|---|---|
| We have based the content of this page on information provided by the Company and its Management. Note: this doesn’t constitute an audit. | The Company should provide bi-annual updates for Wealth Club to distribute to shareholders. The Company may also communicate with shareholders directly. |
This overview is provided to make it easier for you to form your own view about the opportunity. This is a company for which Wealth Club has previously raised capital.
Backed by NSSIF, the government’s investment fund for national security and defence: innovative satellite communications technology
Sofant Technologies Limited (“Sofant” or “the Company”) is an Edinburgh‑based satellite communications hardware technology company. It has developed compact, next-generation antennas for aerospace and defence applications.
The Company’s research and development has been supported by European Space Agency and UK Space Agency development programmes, and Sofant is now readying for commercial launch and production. It has been selected by a major European industrial group to co-develop next generation defence and aerospace satellite antennas.
The problem
Satellite communications are critical in aerospace and defence, but the hardware used to connect to satellite networks has not kept pace with how those networks have evolved. Modern satellite systems now operate across multiple orbits and are widely used on moving platforms such as aircraft, vehicles and marine vessels. This places far greater demands on antenna performance and reliability.
Many existing satellite antennas are bulky, heavy and prone to failure, as they are mechanically steered by motors and actuators, with the entire dish moving to change where the beam focuses. Others rely on conventional semiconductor arrays that consume a lot of power and generate excessive heat. Overcoming such shortcomings in size, weight, power efficiency and reliability is a technical challenge, and typically requires years of specialised R&D followed by extensive testing to meet defence‑ and aerospace‑grade standards.
Sofant’s solution
Sofant has developed a compact, lightweight satellite antenna system, electronically programmable to beam signals in specific directions without moving parts. Housed in miniaturised terminals, these can connect to satellites faster, operate more reliably and be deployed on platforms conventional antenna systems cannot support.
The result is a technology that demonstrably helps wireless systems send and receive signals much more efficiently.
Sofant’s technology is robustly protected by strong intellectual property (IP) – including 22 granted patents and a further four patent applications.
Smaller, lighter and less power-hungry
Superior connectivity
Sofant’s miniaturised terminals connect users (such as remote rural residents or military aircraft) to satellite networks operating in the Ka-band frequency range. The Ka-band is the segment of the microwave spectrum primarily used for high-speed satellite internet, military communication, and speed detection radars.
Increased manoeuvrability
Instead of having to rotate a big satellite dish, Sofant’s compact terminals house a group of tiny antennas that track satellites electronically using ‘phased array’ technology. A phased array uses a computer to change the timing (or "phase") of the signals sent to each small component antenna, so they act together as one antenna to focus a beam.
Smaller, lighter and less power-hungry
The system applies Sofant’s patented RF MEMS (radio frequency micro‑electro‑mechanical systems) technology, which can help significantly reduce the size, weight and power required (SWaP) for communication systems used in aerospace applications. Sofant estimates its technology can deliver an improvement of up to 15x, with 10x less weight and 70% less power consumption compared to incumbent systems.
Why consider investing?
Sofant has reached Technology Readiness Level 6 (TRL6) – meaning the technology has been built and demonstrated.
The company reports it has already delivered complete antenna systems to industry partners. These are undergoing evaluation and field testing, with ongoing support from the European Space Agency and UK Space Agency.
In October 2025, Sofant demonstrated what it describes as the world’s first fully functioning Ka‑band transmit array powered by RF MEMS beamforming technology – marking not only a system‑level milestone beyond laboratory validation, but what Sofant describes as an industry milestone.
The Company is commercialising its technology through a partner‑led model. It licenses its technology and supplies key components to established defence companies, aerospace integrators and satellite operators, who integrate the technology into finished products and deploy them through existing supply chains.
The industry recognises Sofant's achievements and potential: the European Space Agency and UK Space Agency have provided financial backing (£6.2 million in non‑dilutive public funding in 2021) and ongoing R&D support.
In 2025, the National Security Strategic Investment Fund (NSSIF), the UK government’s deep tech venture capital fund for national security and defence, invested in the Company.
After completing its due diligence (you can see an overview of the findings), NSSIF – drawing on insights of scientists, engineers and military personnel from the MoD – commended the Sofant system’s easy deployability, manufacturing scalability, and superior performance to incumbent solutions.
To support transition into commercial deployment, the Company appointed Will Whitehorn OBE as Chairman in January 2026. Will was previously founding President of Virgin Galactic and brings significant experience from the commercial space sector. He is also currently Chair of Seraphim Space Investment Trust.
The opportunity
The Company is currently seeking to raise up to £5 million to support it through to the next level of network testing: TRL7. The Company views this a key milestone towards securing initial commercial orders and a higher‑valuation follow‑on round – not guaranteed. This is an extension of the £6.25 million round that closed in late 2025, including investment from institutions Scottish Enterprise, Kelvin Capital and NSSIF.
Wealth Club has an exclusive allocation of £1 million. The minimum investment is £22,677 and you can apply online.
Investors will subscribe for 1x liquidation preference shares at a price of £226.77, equating to a pre-money valuation of £48.7 million. The company received confirmation of its Knowledge Intensive Status (KIC) from HMRC in December 2025, so shares are expected to be EIS qualifying – not guaranteed. £1.5 million has already been committed by external investors.
Important: The information on this website is for experienced investors. It is not advice nor a research or personal recommendation to invest. If you’re unsure, please seek advice. Investments are for the long term. They are high risk and illiquid and can fall as well as rise in value, so you could get back less than you invest.
I believe Sofant is in the right place at the right time, as the pace of innovation in the space industry continues to accelerate. Now, after a decade in development, its innovative MEMS phased array microwave technology is here and I believe it can gain significant traction in the market at a time of heightened demand for smaller and much more energy efficient receiver/transmitters for space data.
The deal at a glance
| Type | Single-company EIS private offer |
| Stage | Pre Series A |
| Date started trading | 2011 |
| Funding to date | £24 million plus £6.2 non-dilutive public funding from the European Space Agency and the UK Space Agency |
| Notable current and previous investors | EMV Capital, NSSIF, Scottish Enterprise, Kelvin Capital, Wealth Club |
| Fully diluted pre-money valuation | £48.7 million |
| Business / revenue model | Hardware sales and licensing |
| Revenue in FY2025 | £607,856 |
| Forecast EBITDA positive* | FY2029 |
| Forecast revenue in 2030* | £100 million |
| Forecast EBITDA in 2030* | £23 million |
* Forecast and not guaranteed.
Capital is at risk: you could lose your investment.
Risks – important
This is a single company offer with no diversification. It involves investing in an early-stage, loss-making business, which is by nature high risk and prone to failure. There is a risk that the capital raised may not be sufficient to achieve the Company’s objectives. You could lose all the amount you invest.
Like all investments available through Wealth Club, it is only for experienced investors happy to make their own investment decisions without advice.
There is no ready market for unlisted EIS shares: they are illiquid and hard to sell and value. There will need to be an exit for you to receive a realised return on your investment. Exits are likely to take considerably longer than the three-year minimum EIS holding period; equally, an exit within three years could impact tax relief.
To claim tax relief, you will need an EIS3 certificate, normally issued once shares have been allotted. This can take several months: please check the deployment timescales carefully. Tax reliefs depend on company maintaining its EIS-qualifying status. Remember, tax rules can change and benefits depend on circumstances. Before you invest, please carefully read the Information Memorandum which contains further details on the considerable risks – alongside the Wealth Club Risks and Commitments.
Fees and structure
Investors will pay no direct initial or ongoing charges to invest. Fundraising costs are being met by the Company. Wealth Club will be entitled to a performance fee on exit.
Wealth Club investors will invest using a nominee structure. This service is provided by Wealth Club’s subsidiary companies Wealth Club Asset Management Limited (authorised and regulated by the FCA) and Wealth Club Nominees Limited. Wealth Club Nominees Ltd will be completing the share subscription documentation on investors’ behalf.
All the services Wealth Club and, where applicable, its subsidiaries provide are governed by the Terms and Conditions of the Wealth Club Services.
Please see the Wealth Club Schedule of Charges for more details.
This financial promotion has been communicated and approved by Wealth Club Ltd on 28 April 2026
Wealth Club aims to make it easier for experienced investors to find information on – and apply for – investments. You should base your investment decision on the offer documents and ensure you have read and fully understand them before investing. The information on this webpage is a marketing communication. It is not advice or a personal or research recommendation to buy any of the investments mentioned, nor does it include any opinion as to the present or future value or price of these investments. It does not satisfy legal requirements promoting investment research independence and is thus not subject to prohibitions on dealing ahead of its dissemination.