UK agritech secures £4M to scale up eco-friendly insecticides
2 min read
A UK agritech specialising in the next generation of green insecticides has secured a further round of investment totalling £4 million to scale up the development of its unique nature-inspired pesticides, the first of their kind to be developed worldwide.
Investment in this pre-Series A funding round was led by Yield Lab Europe. Other investors include Rubio Impact Ventures, Scottish Enterprise, Cavallo Ventures, SIS Ventures, UKI2S, and several private agritech investors. Funding includes grant support from Innovate UK’s Transforming Food Production competition and Scottish Enterprise. This latest round brings the total raised by SOLASTA Bio to £5.5 million.
Based in Glasgow, SOLASTA Bio develops environmentally-friendly Insect Control Agents (ICAs) that meet a global need for new and effective crop protection. These ICAs also preserve the ecosystem by protecting beneficial insects such as bees.
The company has developed the world’s first technology platform for creating neuropeptide-based insect control products that are nature-inspired rather than selected from a synthetic chemistry library. These products effectively target insect pests while preserving beneficial pollinators such as bees in an environmentally friendly and sustainable 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, expand its technical and commercial teams, creating 25 jobs, accelerate the development of its technology platform and target new markets.
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, in at least half the time traditionally taken by synthetic pest control products. SOLASTA Bio’s technology is patent protected with further patent protection currently…
Business Matters
2023-04-11 03:09:10
All news and articles are copyrighted to the respective authors and/or News Broadcasters. VIXC.Com is an independent Online News Aggregator
Read more from original source here…
