Glasgow-based agritech startup Solasta Bio has raised £10.7 million ($14 million) to further develop its innovative peptide-based insecticide, which minimizes environmental impact by targeting pests while protecting beneficial insects. The investment round was primarily led by Dutch venture capital firm Forbion through its BioEconomy fund, alongside FMC Ventures and Corteva. Additional contributions came from Cavallo Ventures, Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures, and the University of Glasgow. Founded in 2021, Solasta Bio’s product aims to offer a more sustainable and effective alternative to traditional insecticides, which often face issues of resistance and harm to biodiversity. The company’s field trials have showcased high efficacy of their biopeptides against insect pests. To date, Solasta Bio has raised a total of $19 million, with a prior raise of $4 million in April 2023.
Agritech, Biotechnology, Venture Capital,United Kingdom, Netherlands
‘Nature-inspired’ insecticide startup Solasta Bio raises £10.7m