The oversubscribed round was co-led by Forbion, FMC Ventures, and Corteva Inc.
"SOLASTA Bio has come a long way since we set out on this journey 3 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."
Yield Lab Europe led the pre-Series A round, which will fund international expansion and team growth.
"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. With the issue of food security, and effective crop protection becoming an increasingly pressing issue for the agriculture industry and governments worldwide, there is an urgent need for sustainable environmentally-friendly alternatives to current synthetic pesticides. We’re confident that our technology provides the solution and has the potential to make a huge impact."
