Tipa, an Israeli startup in the cleantech field, develops a new kind of packaging to replace plastic. Tipa has raised $70 million in a Series C round of funding, led by Millennium Food-Tech and Meitav Dash, which put in a whopping $26 million.
Total investment in Tipa to date has now reached $130 million.
Plastics are not biodegradable and after they are discarded will remain in landfills for, well forever. So imagine a future where instead of plastic we use a biodegradable material. No more need to worry about all of those plastic bags handed out by stores. Maybe someday the disposable plates, cups and utensils will even be made from something edible so you can eat them at the end of your meal instead of throwing them out.
Founded in 2010, Tipa has developed new biodegradable packaging solutions for the food industry. The company boasts that these unique packaging solutions degrade biologically in up to 180 days in industrial compost – compared to regular common plastic packages that degrade in dozen of years.
We’re wrapping up 2021 with some of the incredible fashion and food brands we’ve worked with this year. Tag a brand who you’d like to see go compostable in 2022! #happynewyear pic.twitter.com/5dlkuaxVEK
— TIPA-Corp (@TIPACorp) December 30, 2021
“Our encounter with plastic packaging waste in our everyday lives has become a constant alarming reminder of the crisis we face as humanity,” said Daphna Nissenbaum, CEO of TIPA. “New solutions that move beyond plastic and beyond the failure of the recycling industry are required to solve this crisis. In recent years, we have witnessed a sharp increase in the demand for sustainable packaging solutions from consumers, while compostable packaging solutions repeatedly are reported as the No 1 choice of consumers around the globe. TIPA’s packaging offers an answer for brands and consumers who want functional, sustainable, and organically recyclable substitutes for packaging that leave no waste behind. This round of funding is designated to support the company’s rapid growth and to enable a broader response to the growing market demand and continue to position TIPA as a world leader in compostable packaging solutions.”