Tipa, a HaMerkaz-based cleantech company building a biodegradable and compostable agile packaging offering for beverages and food, has raised US$ 70 million in a Series C funding round co-led by Millenium Food-Tech and Meitav Investment House on 2 January 2022.
Investors: The latest investment round featured Meitav Investment House and Millennium Food-Tech as the lead investor. The round also saw participation from Migdal Insurance and Financial Holdings. The company has managed to raise, in total, US$ 120 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round towards expanding to different geographies and further developing its product.
About Tipa
Brought to existence in 2010 by Daphna Nissenbaum and Tal Neuman, Tipa’s packaging offering provides a new age and eco-friendly solution which effortlessly decomposes after consumption and substantially lowers the environmental impact. The packaging products exhibit a mixture of properties such as transparency, high yield, barrier, flexibility and excellent impact strength. The firm has also entered into several tactical partnerships with industry giants in its logistics. Recently, Tipa collaborated with AMCOR, one of the largest plastic packaging producers worldwide, with a primary motive to offer compostable packaging products for the packaging industry in New Zealand and Australia. Recognising the growth opportunity with the global compostable packaging market valued at US$ 103 billion annually, Tipa has formulated a superior packaging product for applications including clothing, fresh produce, fresh bakery and dry food. Numerous retailers and brands in the fashion and food sectors have employed the firm’s solutions, including Scotch & Soda, Waitrose, Woolworth, Riverford Organic Farmers and Pangaia.
What the Founder has to say: “Our engagement with plastic packaging waste makes us realise the gravity of the crisis that humanity faces. New products which solve the shortcomings of plastic and the problems of the recycling domain can prove beneficial. Recently, we saw a steep rise in demand for sustainable packaging products, with compostable packaging solutions remaining the first preference of consumers worldwide. Our packaging offers an innovative product to the consumers and brands who desire recyclable, functional and sustainable substitutes for packaging. The infusion of fresh capital will financially assist the firm’s fast growth and to allow wider feedback to the expanding market demand and persist in establishing Tipa as a global leader in the compostable packaging sector.”- Daphna Nissenbaum, Co-Founder and CEO of Tipa.
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