Solasta Bio, a Glasgow, Scotland, UK-based agri-biotech company specialising in green insecticides, raised $14M in Series A funding.
The round, which brought the total raised to date to $19m, was led by Forbion, FMC Ventures and Corteva Catalyst, with participation from existing investors included Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures and University of Glasgow. In the context of this round, Joy Faucher from Forbion will join the company’s board of directors.
The company intends to use the funds to accelerate the development of its peptide-based, nature-inspired bioinsecticides.
Co-founded by CEO Shireen Davies and CSO Prof. Julian Dow, Solasta Bio has developed a technology platform for creating insect control agents that are nature-inspired rather than selected from a synthetic chemistry library. As well as meeting the efficacy standards of current chemicals on the market, these environmentally friendly agents address a global need for effective crop protection by selectively targeting insect pests while protecting beneficial pollinators such as bees.
Solasta Bio’s platform can be mobilised for any pest of interest, across both crop and non-crop applications such as stored grain.
The Series A funding follows a 2023 trials season in which the company’s insect control agents demonstrated efficacy on par or better than commercial standards across 20+ field trials on multiple crops in Europe, the UK and US.
FinSMEs
11/09/2024