A UK agri-tech firm specialising in the next generation of green insecticides has secured a further round of investment, totalling £4 million.
The funds will be used to scale up the development of SOLASTA Bio's unique nature-inspired pesticides, the first of their kind to be developed worldwide.
Based in Glasgow, the firm develops environmentally-friendly Insect Control Agents (ICAs) that meet a global need for new and effective crop protection.
These ICAs also aim to preserve the ecosystem by protecting beneficial insects such as bees and other pollinators.
Investment in the latest pre-Series A funding round was led by Yield Lab Europe, with other investors including Rubio Impact Ventures, Scottish Enterprise, Cavallo Ventures, SIS Ventures, UKI2S.
This latest round brings the total raised by SOLASTA Bio to £5.5 million.
The company has developed the world's first technology platform for creating neuropeptide-based insect control products that are nature-inspired.
The products effectively target insect pests while preserving beneficial pollinators such as bees in an environmentally friendly manner.
Disturbance of target physiological processes by neuropeptide-based ICAs leads to a reduction in pest species. SOLASTA Bio’s platform can be mobilised for any pest of interest.
With its latest funding secured, SOLASTA Bio is aiming to scale up its UK and US operations, and create 25 jobs by expanding its technical and commercial teams.
Having run several successful early-stage R&D trials with commercial partners, SOLASTA is on course to bring its first ICAs to market in 2027.
This is in at least half the time traditionally taken by synthetic pest control products.
Shireen Davies, CEO of SOLASTA Bio said the firm was confident that its technology provided the solution and had the potential to make a huge impact.
She said: "We’ve spent the past 18 months developing our platform and validating peptide candidates with expert third parties and commercial partners.
"We’re really excited by the results and feel that we’re ready to take the next step towards commercialising our technology."
Harry Howarth, investment manager at SIS Ventures added: "There’s a clear industry demand for their eco-friendly insect control agents, with significant benefits for crop protection.
"We’re looking forward to continuing our work with Shireen and the team as they move one step closer to bringing these products to market.”
