UK biotech startup SOLASTA raises $14M in funding to revolutionize crop protection and disrupt insecticides market

SOLASTA Bio, a Glasgow-based agri-biotech startup, has raised $14 million in a Series A funding round to accelerate the development of its innovative, nature-inspired bioinsecticides. These next-generation peptide-based solutions are the first of their kind globally, providing a sustainable alternative to traditional synthetic insecticides.

The funding round, which exceeded expectations, was led by Forbion through its BioEconomy fund, with significant co-investments from FMC Ventures (part of FMC Corporation) and Corteva Inc., via its Corteva Catalyst platform. Additional support came from existing investors such as Cavallo Ventures (Wilbur-Ellis), Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures, and the University of Glasgow, bringing SOLASTA’s total funding to $19 million. As part of the investment, Joy Faucher from Forbion will join SOLASTA Bio’s board of directors.

With this new investment, SOLASTA Bio plans to further develop its technology and product pipeline, aiming at a market opportunity valued at $27 billion annually. The company will also expand its US operations, build out real-world field trials in key regions, scale up biomanufacturing capabilities, and explore additional strategic opportunities, including non-crop applications.

SOLASTA Bio is targeting market entry by 2027, significantly reducing the time typically required for synthetic pest control products. This marks a considerable advantage of their platform technology.

This funding follows a successful trial season in 2023, where SOLASTA Bio’s insect control agents matched or outperformed existing commercial products across more than 20 field trials on various crops in Europe, the UK, and the US.

Source: SOLASTA Bio

Founded in 2021 by CEO Shireen Davies and CSO Prof. Julian Dow, SOLASTA Bio has developed a pioneering technology platform that creates insect control agents based on natural principles, rather than synthetic chemicals. These bioinsecticides are not only effective but also environmentally friendly, selectively targeting harmful pests while safeguarding beneficial pollinators like bees. The platform’s versatility allows it to be applied across a range of uses, including crop protection and non-crop applications such as stored grain.

As the need to protect pollinators and wildlife becomes increasingly urgent, alongside the push for higher agricultural productivity, SOLASTA Bio is positioning itself as a leader in sustainable crop protection. The global insecticides market, currently dominated by synthetic chemicals, is facing challenges from insect resistance, regulatory pressures, and growing consumer demand for chemical-free solutions.

CEO and co-founder Shireen Davies highlighted the company’s progress, saying, “SOLASTA Bio has made significant strides over the past three years. With operations established in the UK and US, and a team with deep expertise in both technology and agribusiness, we’ve developed a unique platform to address critical issues for growers. Our field trial results have been highly promising, showing biopeptides that are as effective, if not more so, than standard insecticides. With Series A funding secured, SOLASTA Bio is ready to move forward and achieve our commercialization goals.”

SOLASTA Bio’s leadership team includes experts from the technical and agrochemical sectors such as Daphne Preuss, Paula Pinto, David Armour, and Rob Wylie.

Joy Faucher, Partner at Forbion BioEconomy, added, “As traditional insect control agents face growing challenges, SOLASTA Bio offers a timely and sustainable alternative. The team’s deep knowledge in insect neuropeptide modalities, along with their proven technology and real-world data, positions them to introduce a series of groundbreaking products that could redefine the agriculture industry.”