The investment round was led by Forbion via its BioEconomy fund strategy, with co-lead investment from agricultural strategics FMC Ventures 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 University of Glasgow, bringing the total raised to date to $19 million.
Series A funding follows 2023 trials season in which SOLASTA Bio’s insect control agents demonstrated efficacy on par or better than commercial standards across 20+ field trials on multiple crops in Europe, the UK and US.
‘Nature inspired’ crop protection
Established in 2021, SOLASTA Bio says it has developed a technology platform for creating insect control agents that are nature-inspired rather than selected from a synthetic chemistry library.
As well as meeting the efficacy standards of current chemicals on the market, these environmentally friendly agents address a growing global need for effective crop protection by selectively targeting insect pests while protecting beneficial pollinators such as bees. SOLASTA Bio’s platform can be mobilised for any pest of interest, across both crop and non-crop applications such as stored grain.
Plans to bring products to market by 2027
With the investment round secured, SOLASTA Bio says it will continue to advance its technology platform and pipeline of insect control agents, targeting an estimated $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.
The company is targeting market entry as early as 2027 – at least half the time traditionally taken by synthetic pest control products - demonstrating a significant advantage of the platform technology.
SOLASTA Bio is co-founded by CEO Shireen Davies and CSO Prof. Julian Dow and brings together a leadership team of technical and agrochemical industry specialists including Daphne Preuss, Paula Pinto, David Armour and Rob Wylie.
Stressing the ‘urgent need to protect pollinators and wildlife, while boosting agricultural productivity’, SOLASTA Bio aims to play a leading role in the transition toward sustainable crop protection.
The global insecticides market is currently dominated by synthetic chemicals accounting for 94% of insect control solutions. While 75% of food crops are dependent on pollinator insects, other insects cause enormous social, health and economic damage accounting for at least $70 billion in US crop losses alone.
However, the insecticides market is under increasing pressure from widespread insect resistance, lack of species specificity, increasing regulatory controls and consumer preferences for non-chemical residues.
Shireen Davies PhD, FRSE, CEO and co-founder, SOLASTA Bio said: “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.”
Making progress towards more sustainable inputs in crop protection
FMC Ventures managing director Mark Brooks said SOLASTA Bio’s approach addresses the critical issue of insect resistance while also supporting the goal of preserving pollinators and biodiversity. Th funding round will “accelerate progress towards more sustainable inputs in crop protection,” he said.
Tom Greene, senior director and global leader at Corteva Catalyst added: “SOLASTA is a critical player in the rapidly expanding market for nature-inspired crop health products – particularly in the peptide technology space. They are driving the type of sustainable innovation necessary to advance the next generation of biological and naturally inspired crop protection technologies.”
