Tipa (Hod Hasharon, Israel), a developer of compostable flexible packaging, has secured $25 million in its recent financing round. Blue Horizon Ventures, Triodos Organic Growth Fund and existing investors Chestnut Holding LLC and GreenSoil Investments participated in this round.
“Tipa’s compostable packaging solutions are designed to break down within months under compost conditions just like any organic matter, such as orange peels,” said the company’s information.
As global demand for viable alternatives to conventional plastic soars, this new investment round will enable the company to continue its growth, expanding its sales in new territories, and to further develop its portfolio of unique packaging solutions.
“Plastics and their by-products are littering our cities, fields and oceans, and are contributing to health issues in humans and animals,” said Daphna Nissenbaum, CEO and co-founder of Tipa. “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.”
Michael Kleindl, co-founder and Managing Partner of Blue Horizon Ventures, commented, “Tipa’s growth is indicative of the market need for sustainable packaging solutions; we’re confident that Tipa is positioned to become a global category leader.”
PlasticsToday contacted Tipa via email to get more information on the amount of time that the material actually takes to break down under real-world industrial composting conditions, but as of this writing we have received no reply to our inquiry.