Home Trends Business Tipa Receives USD70m Investment

Tipa Receives USD70m Investment


Israeli company Tipa, a developer of compostable packaging solutions for food and goods, has received a USD70m investment, the firm announced.

Founded in 2010, Tipa makes compostable packaging for fresh and dry food and for goods like apparel using a patent-protected method and a blend of compostable polymers. The company says its eco-friendly films and laminates emulate the properties and functionality of conventional plastic materials like durability, barrier properties, shelf stability. The material can decompose into soil after about 180 days, the company says, compared to about 1,000 years for plastic bags.

The Series C funding round was led by Israeli investment company Meitav Dash and Millennium Food Tech, an R&D investment partnership traded on the Tel Aviv Stock Exchange. Millennium invests in Israeli food tech and agricultural tech companies and has backed outfits like plant-based burger company SavorEat, cultivated meat startup Aleph Farms, and Yofix, a maker of soy-free, plant-based prebiotic and probiotic dairy alternatives.

Migdal Group Insurance and Finance also participated in Tipa’s funding round.

Tipa already works with a number of companies worldwide like fashion brands Scotch & Soda and Stella McCartney, and UK supermarket chain Waitrose. This summer, the company inked a deal with Swiss global packaging company Amcor, one of the largest in the world, to manufacture its compostable packaging in Australia and New Zealand.

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