Solasta Bio, a Glasgow-based agritech startup, has secured £10.7m to advance its innovative pest control technology.
- Founded in 2021, Solasta Bio specialises in developing peptide-based insecticides without synthetic chemicals.
- The company’s eco-friendly approach aims to maintain pest control efficacy while safeguarding beneficial insects.
- Investment was led by Forbion, with contributions from several notable venture capital firms.
- Solasta Bio’s field trials have shown promising results, indicating effectiveness comparable to traditional insecticides.
Solasta Bio, a promising agritech startup located in Glasgow, has successfully raised £10.7 million to further its development of cutting-edge pest control solutions. This funding will support the company’s mission to create environmentally sound insecticides that align with modern agricultural needs.
Since its inception in 2021, Solasta Bio has focused on pioneering peptide-based insecticides that negate the need for synthetic chemical libraries, marking a significant shift towards sustainability in pest management. This innovative approach ensures that the products not only target the intended pests but also preserve beneficial insect populations such as bees.
The recent funding round was spearheaded by the Dutch venture capital firm Forbion through its BioEconomy fund, with additional investments from FMC Ventures and Corteva. Joy Faucher, Forbion BioEconomy partner, highlighted the revolutionary potential of Solasta Bio’s approach, citing its capability to transform the agricultural sector with cost-effective and sustainable solutions.
Solasta Bio’s field trials have demonstrated substantial promise, showcasing high efficacy of biopeptides against target pest species. Shireen Davies, co-founder and CEO, emphasised the exceptional performance of their products, stating they match or surpass the efficiency of traditional insecticides.
Apart from Forbion, the funding attracted contributions from Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, and others, culminating in a total fundraising achievement of $19 million since the company’s founding. The startup previously gathered £4 million in April 2023, underscoring a robust financial trajectory and investor confidence.
Solasta Bio continues to leverage innovative science for sustainable agriculture, poised to redefine pest management.
