Israeli compostable packaging firm nabs $70m investment

i24NEWS

3 min read
A climate change activist dressed in plastic single-use packaging demonstrates outside the Houses of Parliament in central London, England, on October 7, 2019.
ISABEL INFANTES / AFPA climate change activist dressed in plastic single-use packaging demonstrates outside the Houses of Parliament in central London, England, on October 7, 2019.

Tipa develops packaging for fresh and dry food, as well as for goods, using a blend of compostable polymers

Israeli company Tipa, a global leader in compostable packaging solutions for food and goods, announced Sunday that it received $70 million in investment 

Founded in 2010, the award-winning firm develops packaging for fresh and dry food, as well as for goods, using a blend of compostable polymers.

According to the company, its eco-friendly materials emulate the properties of conventional plastic such as durability and shelf stability, The Times of Israel (ToI) reported.

Their material can reportedly decompose into the soil after roughly 180 days, compared to about 1,000 years for plastic bags.

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Tipa’s latest funding round was led by Israeli investment company Metiav Dash and Millenium Food Tech, the latter an R&D firm that invests in Israeli food tech and agricultural tech companies like SavorEat and Aleph Farms.

Migdal Group Insurance and Finance also participated in the Series C funding round.

According to ToI, Tipa raised over $130m since its founding in central Israel by Daphna Nissenbaum and Tal Neuman.

Past investors included Blue Horizon Ventures, GreenSoil Investments, and Hong Kong-based Horizon Ventures.

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The climate tech company addresses the environmental harms posed by flexible plastics from the packaging industry for consumer goods, a market that is projected to reach around $200b by 2025.

However, according to the United Nations Environment Program, only nine percent of all plastic waste ever produced has been recycled.

Tipa has said that packaging “should be part of a circular economy, where materials that are produced can be reused for another valuable purpose,” ToI reported.

“We are witnessing a growing enthusiasm around the world for the compostable packaging agenda and the solutions it brings,” said Nissenbaum in July.