SOLASTA Bio, a Glasgow-based agri-biotech firm, has successfully raised $14M in an oversubscribed Series A funding round. The investment will accelerate the development of the company’s pioneering peptide-based bioinsecticides, which promise to be both sustainable and highly effective. SOLASTA Bio aims to revolutionize the agricultural sector by offering an eco-friendly alternative to conventional insect control methods, which often harm biodiversity.
SOLASTA Bio, having raised a total of $19M to date, continues to focus on sustainable agricultural solutions. The recent funding round was spearheaded by Forbion’s BioEconomy fund, with Forbion’s Joy Faucher joining the SOLASTA board. Co-lead investors include FMC Ventures and Corteva Inc., with contributions from existing backers such as Cavallo Ventures, Rubio Impact Ventures, and Scottish Enterprise. This diverse investor base emphasizes the broad confidence in SOLASTA Bio’s innovative approach.
Investors Supporting SOLASTA Bio
The funding round led by Forbion’s BioEconomy fund, which recently closed BioEconomy Fund I at €75M, signifies strong investor confidence. Joy Faucher from Forbion remarks on the potential for SOLASTA’s bioinsecticides to reshape the crop protection market, offering sustainable and cost-effective solutions. This strategic investment aligns with Forbion’s vision of supporting groundbreaking innovations in biotechnology.
“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.”
Peptide-based Solutions for Crop Protection
SOLASTA Bio, co-founded by Shireen Davies and Prof. Julian Dow, is committed to advancing sustainable crop protection solutions. The company’s nature-inspired technology platform, established in 2021, targets pests without harming beneficial pollinators. The technology is versatile, applicable to various pests in both crop and non-crop settings, including stored grain, and aims for market entry by 2027.
The company has outlined plans for the utilization of the raised capital, which include enhancing their tech platform, expanding US operations, and scaling up biomanufacturing. These initiatives follow a successful 2023 trials season, where SOLASTA’s insect control agents demonstrated promising results in over 20 field trials across Europe, the UK, and the US. This success underscores the potential of biopeptides to match or exceed the efficacy of conventional insecticides.
“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.”
The recent funding round and successful trials position SOLASTA Bio to advance its mission of transforming agricultural pest control. By offering an environmentally friendly alternative that addresses both efficacy and sustainability, the company aims to meet the urgent needs of farmers globally. The strategic expansion in the US and the development of biomanufacturing capabilities will further bolster SOLASTA’s market presence.
