Biodegradable packaging co Tipa raises $1.5m

The investment will enable Tipa to accelerate its product development and business development activity with leading food manufacturers in Israel and overseas.

Biodegradable and recyclable flexible packaging solutions company Tipa Corp. Ltd. has raised investment funds led by food and agro-innovation fund GreenSoil Investments. The amount invested was not disclosed but Israeli media reports put the sum at $1.5 million.

The investment will enable Tipa to accelerate its product development and business development activity with leading food manufacturers in Israel and overseas.

Based in Ramot Hashavim near Ra'anana, Tipa was founded in 2010 by CEO Daphna Nissenbaum and VP products Tal Neuman. The company's biodegradable flexible packaging solutions for the food and beverage industry mirror the behavior of organic waste when discarded and fully dissolve into nature within 180 days.

GreenSoil co-founder and managing partner Gideon Soesman said, "The flexible packaging market, estimated at over $65 billion worldwide, is searching for innovative and sustainable solutions. Today, less than 5% of this market can be recycled and the rest ends up in landfills. Tipa’s groundbreaking biodegradable packaging solution can be disposed of without polluting the environment."

Nissenbaum said, "Our solution is based on over 3 years of intensive R&D. We have been able to develop a flexible biodegradable packaging solution that addresses the complicated needs of the huge and fast growing food packaging market.

Published by Globes [online], Israel business news - www.globes-online.com - on May 27, 2013

© Copyright of Globes Publisher Itonut (1983) Ltd. 2013

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