Glasgow-based Agritech innovator SOLASTA Bio has successfully completed an oversubscribed £10.7 million Series A funding round. This significant investment will propel the development of its pioneering green insecticides, marking a major step towards a more sustainable future for agriculture.
Established in 2021, SOLASTA Bio has earned global recognition for developing the world’s first technology platform that creates insect control agents inspired by nature, rather than relying on synthetic chemistry. These eco-friendly agents not only match the effectiveness of existing chemicals but also address the urgent need for sustainable crop protection. Their unique approach selectively targets harmful insect pests whilst safeguarding vital pollinators such as bees.
SOLASTA Bio’s technology platform is remarkably versatile, applicable to a wide range of pests across both crop and non-crop settings, including stored grain. This adaptability has been validated by a successful 2023 trials season, where their insect control agents demonstrated exceptional efficacy across more than 20 field trials on diverse crops throughout Europe, the UK, and the US.
The Series A funding round was spearheaded by Forbion through its BioEconomy fund strategy, with co-lead investment from agricultural giants FMC Ventures and Corteva Inc. Existing investors, including Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures, and the University of Glasgow, also participated, raising the total funding to date to an impressive $19 million.
Following this investment, SOLASTA Bio will continue expanding its US operations, building upon its established base in North Carolina. The company also plans to conduct more extensive field trials across key geographies, upscale its biomanufacturing capacity, and explore further strategic opportunities beyond crop applications. Ambitiously, they are targeting market entry as early as 2027, a significantly shorter timeframe compared to traditional synthetic pest control products.
Shireen Davies, CEO and co-founder of SOLASTA Bio, expressed her excitement: “SOLASTA Bio has achieved remarkable progress since our inception three years ago. We have assembled an exceptional international team with expertise in technology and agribusiness, and our unique technology platform is effectively addressing grower challenges. The results of our field trials have been incredibly promising, showcasing the high efficacy of biopeptides against target insect pests. With the Series A funding secured, SOLASTA Bio is poised to accelerate our growth and achieve our commercialisation goals.”
This landmark investment in SOLASTA Bio highlights the growing recognition of the need for sustainable solutions in agriculture. With its groundbreaking technology, the company is set to revolutionise the pest control industry, offering a greener and more effective way to protect crops while preserving the delicate balance of our ecosystems.
