UPL Corp Champions Sustainable Agriculture With $1.75M Investment In Ag-Tech Startups

In a significant development for the agricultural sector, SOLASTA Bio and Impetus Ag have emerged as the victors of the Radicle Natural Plant Protection (NPP) Challenge, hosted by UPL, a leading global provider of agricultural solutions. This challenge was designed to spotlight entrepreneurs who are pushing the boundaries with natural and biological solutions in agriculture. Out of 237 startup applications, these two companies stood out for their innovative approaches to pest control.

SOLASTA Bio, an ag-biotech firm known for its work on green insecticides, clinched the top spot and a $1 million investment. Their winning edge came from their development of nature-inspired, selectively targeted, and sustainable peptide insect control products. Impetus Ag, which focuses on developing biological insect control solutions, was named the runner-up and awarded a $750,000 investment. Their approach involves creating novel proteins that attach naturally occurring toxins to targeted pests.

Shireen Davies, CEO of SOLASTA Bio, expressed her enthusiasm about the win, noting the significant opportunity it presents to speed up the deployment of their sustainable insect control solutions with the backing of UPL Corp and Radicle Growth's global networks. Dr. Martha Schlicher, CEO of Impetus Ag, also shared her excitement about the win being a pivotal moment for her company. She emphasized how crucial the investment and access to product development resources, expertise, and global networks are for ensuring their pest solutions are up to industry standards and widely adopted.

Mike Frank, CEO of UPL Corp, reaffirmed their dedication to broadening access to sustainable solutions and contributing to the development of healthy and productive food systems. He highlighted his eagerness to collaborate with SOLASTA Bio and Impetus Ag on their biological innovations to achieve tangible impacts. Kirk Haney, Managing Partner at Radicle Growth, praised the winners and underscored the Radicle Challenge's role in fostering global deal flow and funding outstanding technologies across the food value chain.

The announcement was made at the Pitch Day Event on March 18, 2024. Winning not only brings funding but also grants SOLASTA Bio and Impetus Ag access to the extensive expertise and networks of UPL Corp and Radicle Growth. This support is aimed at accelerating their growth and development in the agricultural sector.

UPL Corp stands at the forefront of crop protection and biological solutions globally with a focus on sustainable agriculture. It strives for shared growth and prosperity among farming communities and the planet. As part of UPL Group, it offers sustainable agricultural products and solutions that cover the entire Agrifood value chain.

Radicle Growth is a platform dedicated to building companies in the early stages of agriculture and food technologies. By providing seed-stage capital and a nurturing environment, they help visionaries in these sectors thrive. Their initiatives aim to identify innovative technologies and expedite their growth.

The Radicle NPP Challenge by UPL has successfully highlighted innovative startups in agriculture that are creating natural and biological solutions for plant protection issues. The winners have received not only funding but also invaluable access to networks and expertise that will aid in further developing their innovations for significant impact in agriculture.