Solasta Bio, a Glasgow, UK-based agritech company advancing green insecticides, raised £4M in Pre-Series A funding.
The round, which brought the total amount to £5.5M, was led by Yield Lab Europe. Other investors included Rubio Impact Ventures, Scottish Enterprise, Cavallo Ventures, SIS Ventures, and UKI2S.
The company intends to use the funds to scale up its UK and US operations, expand its technical and commercial teams, creating 25 jobs, accelerate the development of its technology platform and target new markets.
Led by Shireen Davies, PhD, CEO, Solasta Bio has developed a technology platform for creating neuropeptide-based insect control products that are nature-inspired rather than selected from a synthetic chemistry library. These products target insect pests while preserving beneficial pollinators such as bees in an environmentally friendly and sustainable manner. The platform can be mobilised for any pest of interest.
The team also includes Professor Julian Dow, CSO, and former BASF senior executive Dr Paul Bernasconi, alongside Chair, Dr Rob Wylie, CFO, David Armour, and Chief Commercial Officer, Dr Daphne Preuss.
The company currently employs a team of 25 R&D, commercial staff and consultants.
FinSMEs
11/04/2023