Glasgow-based SOLASTA Bio, an agri-biotech startup specialising in green insecticides, has secured $14M (approximately €12.67M) in an oversubscribed Series A round of funding.
The proceeds will drive the development of the company’s peptide-based, nature-inspired bioinsecticides, which are the first of their kind globally.
With this round, SOLASTA Bio has now raised a total capital of $19M, to date.
Investors supporting SOLASTA Bio
The investment was led by Forbion’s BioEconomy fund, which recently closed BioEconomy Fund I at €75M. Joy Faucher from Forbion will join SOLASTA Bio’s board of directors as part of this deal.
The round was also co-lead by agricultural strategics FMC Ventures and Corteva Inc.
Existing investors Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures, and the University of Glasgow also participated in this round.
Joy Faucher, Partner at Forbion BioEconomy, says, “As traditional insect control agents struggle with resistance and impact to biodiversity, SOLASTA is poised to revolutionise the crop protection market at a critical time, with a cost-effective, sustainable and high-efficacy alternative that can be adopted seamlessly by farmers.”
“The team’s deep expertise in insect neuropeptide modalities, their differentiated tech platform and proven real-world data provide a unique position to launch a series of first-in-class products that can redefine the agriculture industry.”
Peptide-based solutions for crop protection
SOLASTA Bio aims to lead the transition to sustainable crop protection amid urgent needs to protect pollinators and boost agricultural productivity.
The company was co-founded by Shireen Davies and Prof. Julian Dow and is led by a team of experts in technical and agrochemical industries, including Daphne Preuss, Paula Pinto, David Armour, and Rob Wylie.
Founded in 2021, SOLASTA Bio has created the world’s first nature-inspired technology platform for insect control agents. These environmentally friendly agents match the efficacy of current chemicals and selectively target pests while safeguarding beneficial pollinators.
The company’s platform can be applicable to various pests in both crop and non-crop settings, including stored grain.
Capital utilisation
SOLASTA Bio mentions that the funding follows its successful 2023 trials season, where its insect control agents showed efficacy equal to or exceeding commercial standards in over 20 field trials across Europe, the UK, and the US.
The latest funds will advance SOLASTA Bio’s tech platform and insect control agents. It will expand its US operations, with a base in North Carolina, enhance field trials, scale up biomanufacturing, and explore strategic opportunities beyond crop applications.
According to the company, it aims to enter the market by 2027, which is faster than the typical timeline for synthetic pest control products, showcasing a key advantage of its platform technology.
CEO and co-founder Davies, says, “SOLASTA Bio has come a long way since we set out on this journey three years ago. Having established operations in the UK and US, we’ve now got an international team with outstanding competencies in technology and agribusiness and, importantly, we have developed our unique technology platform to address grower pain points.”
“The results of our field trials have been hugely encouraging, demonstrating high efficacy of biopeptides against target insect pests, as effective or better than standard insecticides.”
“With Series A now secured, it’s time for SOLASTA Bio to kick on to the next level and successfully hit our targets for commercialisation.”
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