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Shireen Davies, CEO & co-founder of SOLASTA Bio. Image credit: Andrew Cawley via SOLASTA Bio
Solasta Bio, a Glasgow-based agri-biotech company specializing in sustainable insecticides, has raised $14M in its Series A funding round, bringing its total funding to $19M. The round was led by Forbion, FMC Ventures, and Corteva Catalyst, with additional participation from existing backers like Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures, and the University of Glasgow..
The fresh capital will help the company accelerate the development of its innovative, peptide-based bioinsecticides, which are inspired by nature rather than synthetic chemicals. Co-founded by CEO Shireen Davies and CSO Prof. Julian Dow, Solasta Bio's technology offers a new approach to pest control by selectively targeting harmful insects while safeguarding essential pollinators like bees.
Solasta Bio's platform can be adapted for various pests in crop and non-crop scenarios, such as stored grain. Following a successful 2023 trial season, where their bioinsecticides outperformed or matched commercial standards across more than 20 field trials in Europe, the UK, and the US, the company is well-positioned to scale its solution for global agricultural needs.
Shireen Davies, PhD, FRSE, CEO and co-founder, SOLASTA Bio, commented:
"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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