Botanical Solution Inc., a Davis, Calif.-based Advanced Botanical Materials company, secured $3.3m in seed round of funding.
Backers included the International Development Bank (IDB), Inmobiliaria e Inversiones el Coigue, El Viento, Sociedad de Invesiones Celta, The Yield Lab Business Accelerator, Ganeshalab Business Accelerator, Sembrador Capital, and angel investors Ignacio Smith and Wolfgang Schuch.
Led by CEO Gastón Salinas, BSI leverages a proprietary biotechnology platform that eliminates barriers, such as supply and quality issues, to discover and develop novel botanical products. Its first commercially successful product is the biofungicide BotriStop®, which is based on a tree native to Chile, the Quillaja saponaria.
The company, which is planning another round of funding for Spring 2021, intends to use the funds for product production and sales growth of BotriStop biofungicide initially in Chile through its distribution partner Syngenta. BotriStop will soon be registered in a number of key Latin American countries and regulatory progress is expected in the U.S. and E.U. during 2021.
The company plans to become a major supplier of pharmaceutical grade QS-21 to address the serious challenges presented by the imminent shortage of this key vaccine adjuvant.