TIPA, an Israel-based producer of compostable flexible packaging solutions, has raised $25m through a new funding round led by Blue Horizon Ventures, Triodos Organic Growth Fund and existing investors Chestnut Holding LLC and GreenSoil Investments.
Founded in 2010, TIPA manufactures compostable packaging solutions which are designed to break down within six months under home or industrial composting conditions, in the same manner as organic matter such as orange or banana peel.
The company’s packaging is made from 20-80% plant-based ingredients such as non-GMO corn and sugarcane, with bio-based content depending on the application.
Suitable applications include snack bars, fresh produce, coffee, cereals and more.
TIPA claims that this investment round will enable the company to continue its growth by expanding its sales in new territories, and will help the company further develop its portfolio of sustainable packaging solutions.
Daphna Nissenbaum, CEO and Co-Founder of TIPA said: Plastics and their byproducts are littering our cities, fields and oceans, and are contributing to health issues in humans and animals. Consumers all over the world are demanding alternatives and leading brands are seeking the right solutions.
“We founded TIPA with the vision of offering sustainable packaging solutions that break down and return to nature, and are glad to continue expanding as we offer a patented technology to leading brands all over the world.”
Isabelle Laurencin, senior investment manager at Triodos Organic Growth Fund added: “Currently less than 10% of plastic packaging is recycled, and when it comes to flexible packaging, the percentage actually goes down to only 5%.
“We are excited to support TIPA’s efforts in providing a sustainable and viable alternative solution to the pressing challenge of plastic waste reduction.”
© FoodBev Media Ltd 2020
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