Decomposable packaging startup TIPA has raised $70 million in a Series C round led by Millennium Food-Tech and Meitav Dash, the company announced Sunday.
Follow Israel Hayom on Facebook, Twitter, and Instagram
TIPA has successfully brought its breakthrough technology to market Its products are used by some of the world's largest brands and retailers in food and fashion industries in Europe, the US and Australia.
TIPA's packaging innovation offers the same functional properties of plastic. But when discarded, the packing decomposes and returns to nature, leaving zero waste.
Daphna Nissenbaum, CEO of TIPA, said, "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."
