Finnish biotech Solu raises €1M to deal with antibiotic resistance
Helsinki-based biotech startup Solu has raised €1 million in a seed round of funding aimed at combating globally rising antibiotic resistance. Lifeline Ventures led the round, joined by Wave Ventures, EU-Startups report.
- Founded in 2022, Solu is a biotechnology startup focusing on dealing with antibiotic resistance by building the world’s most extensive pathogen DNA library. The company makes it easier to understand, detect, and prevent the spread of antibiotic resistance, which can save lives of millions of people.
“Antibiotic resistance is a significant threat to global health. Preventing antibiotic resistance requires better research and faster identification. We make the identification of antibiotic-resistant bacteria easy and fast. Typically, identification takes hours, but with our solution, it shortens to a few minutes. Real-time data can effectively detect superbugs and dangerous mutations, making it possible to stop their spread as quickly as possible,”Sam Sihvonen, CEO and co-founder of Solu, comments.
- The majority of the funds came from Lifeline Ventures, a Finnish early-stage investor, which recently launched its fifth fund capped at €150 million. In early 2023, the fund also backed Solu during its pre-seed funding round.
- Additionally, Wave Ventures joined the investment. It is the largest student-run VC in Europe investing in Gen Z entrepreneurs at the earliest stage.
- Solu will use the fresh funds to continue its product development and commercialization. In recent future, the company also plans to build its first pathogen DNA library.