ImpactAlpha, April 13 — The global market for insecticides is dominated by synthetic pesticides that are harmful to the environment and may even undermine food production.
Glasgow-based Solasta has raised £4 million ($5 million) to make environmentally-friendly insect-control products based on neuropeptides that can identify and remove insects that are harmful to plants, leaving unharmed pollinators like bumblebees and butterflies.
With biodiversity as well as climate benefits, the biotech venture is targeting a “huge white spot in the current market offering,” said Tijl Hoefnagels of Rubio Impact Ventures, which participated in the pre-Series A financing. “Solasta is right in the sweet spot of what we want to invest in.”
Commercialization
Solasta’s pre-Series A investment round was led by Yield Lab Europe. Also participating, in addition to Rubio Impact, were Cavallo Ventures and Scottish Enterprise. The company has trialed its product and is looking to build operations in the UK and the US ahead and launch commercially in 2027.
