SOLASTA Bio Secures $14M Series A to Develop Sustainable Bioinsecticides
Slice of Agriculture Team
09/13/2024
Key Highlights:
- $14M Series A funding led by Forbion, FMC Ventures, and Corteva Catalyst.
- Unique peptide-based bioinsecticides for eco-friendly crop protection.
- Successful 2023 trials showed efficacy on par with current insecticides.
- SOLASTA Bio is targeting a $27B market with market entry planned for 2027.
- Focus on pollinator protection and tackling insect resistance.
Source (Globe Newswire)
Quotes
“ "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.” ”
Shireen Davies, CEO and Co-founder at SOLASTA Bio
Our Take:
SOLASTA Bio's $14M Series A funding marks a pivotal moment for the agri-biotech industry. By focusing on nature-inspired, peptide-based insecticides, SOLASTA addresses two key global concerns: the rising issue of insect resistance and the urgent need to protect beneficial pollinators. Their innovative approach, which demonstrated promising results in 2023 trials, positions them as a frontrunner in the bioinsecticide market. With strategic backing from major agricultural players like FMC Ventures and Corteva Catalyst, SOLASTA Bio is well-positioned to commercialize their eco-friendly solutions, with potential market entry as early as 2027—a significant leap forward for sustainable agriculture.
