Solasta Bio, a pioneering startup in agritech, has secured a significant investment to further develop its innovative pest control technology.
- The company has raised $14m (£10.7m) to support its groundbreaking peptide-based insecticide, which avoids synthetic chemicals.
- Solasta Bio’s product aims to be both effective against pests and environmentally friendly, protecting beneficial insects like bees.
- This funding round was led by Forbion, with participation from other notable investors, highlighting strong confidence in Solasta Bio’s potential.
- The company has ambitious plans to revolutionize the crop protection market with its sustainable solutions.
Solasta Bio, based in Glasgow, has made strides in the field of agritech by creating a peptide-based insecticide that doesn’t rely on synthetic chemistry. This promising development aligns with industry standards and prioritizes environmental protection, safeguarding vital insects such as bees while effectively targeting pests.
Founded in 2021, the startup has quickly emerged as a significant player in the sector, demonstrating remarkable progress over the past three years. CEO Shireen Davies expressed strong satisfaction with the field trial results, which showcased the biopeptides’ high efficacy against target pests, outperforming standard insecticides in numerous instances.
The recent funding round, led by Dutch venture capital firm Forbion through its BioEconomy fund, underscores the market’s growing interest in sustainable agricultural solutions. Forbion BioEconomy partner Joy Faucher highlighted Solasta’s potential to transform the crop protection industry at a crucial time, offering a cost-effective and high-efficacy alternative that seamlessly integrates into current farming practices.
In addition to Forbion, the investment round included contributions from FMC Ventures, Corteva, Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures, and the University of Glasgow. This diverse group of investors further emphasizes the confidence in Solasta Bio’s unique approach and its potential impact on the agriculture industry.
Since its inception, Solasta Bio has raised a total of $19m, including a £4m investment in April 2023. The company’s focus on insect neuropeptide modalities and a differentiated technology platform establishes a robust foundation for launching first-in-class products, potentially redefining agricultural practices.
Solasta Bio is set to significantly impact the agriculture industry with its innovative and eco-friendly pest control solutions.
