Solasta Bio has completed a $14M Series A funding round to accelerate the development of its peptide-based, nature-inspired bioinsecticides – the first of their kind to be developed worldwide.
The investment round was led by Forbion via its BioEconomy fund strategy, with co-lead investment from agricultural strategics FMC Ventures (FMC Corporation) and Corteva Inc., through its Corteva Catalyst platform. Participation from existing investors included Cavallo Ventures (Wilbur-Ellis), Rubio Impact Ventures, Scottish Enterprise, UKi2S, SIS Ventures and the University of Glasgow, bringing the total raised to date to $19 million. In the context of this round, Joy Faucher from Forbion will join the company's board of directors.
Series A funding follows a successful 2023 trials season in which SOLASTA Bio's unique insect control agents demonstrated efficacy during field trials on multiple crops in Europe, the UK, and the US.
With the investment round secured, SOLASTA Bio will continue to advance its technology platform and pipeline of insect control agents, targeting a $27bn annual market opportunity. In parallel, the business will continue to build out its US operations, having already established a base in North Carolina, expand its real-world field trials across key geographies, scale up its biomanufacturing capabilities, and further develop strategic opportunities including applications beyond crop use.
Read more at: tech.eu.