NetScientific PLC (AIM:NSCI) said investee company Sofant Technologies signed a €7.3mln contract with the UK and European space agencies.
Sofant, a specialist in 5G communications that develops antennas, will help commercialise a low-cost, low-power satellite communications platform.
NetScientific chief executive, Dr Ilian Iliev, said: "The UK Space Agency and European Space Agency's support for Sofant further demonstrates the strength of NetScientific's investment thesis - combining our capital light investment approach with access to non-dilutive public funding in high-impact sectors.
“The non-dilutive funding will support Sofant in going through the next major value inflexion points, help attract major industry partners, while limiting dilution to shareholders."