TIPA®, a leading developer and provider of fully compostable flexible packaging solutions, has announced today that it has secured $25M in its recent financing round. Investors who participated in this financing round include Blue Horizon Ventures, Triodos Organic Growth Fund and existing investors Chestnut and GreenSoil Investments.
As global demand for viable alternatives to conventional plastic soars, this new investment round will enable the company to continue its growth, expanding its sales in new territories, and to further develop its portfolio of unique packaging solutions.
“Plastics and their byproducts are littering our cities, fields and oceans, and are contributing to health issues in humans and animals. Consumers all over the world are demanding alternatives and leading brands are seeking the right solutions,” said Daphna Nissenbaum, CEO and Co-Founder of TIPA®. “We founded TIPA® with the vision of offering sustainable packaging solutions that break down and return to nature, and are glad to continue expanding as we offer a patented technology to leading brands all over the world.”
“TIPA’s growth is indicative of the market need for sustainable packaging solutions. Leveraging its experienced and passionate team, proven technology, and steady focus on the global food and fashion industries, we’re confident that TIPA® is positioned to become a global category leader,” said Michael Kleindl, Co-Founder and Managing Partner of Blue Horizon Ventures.
“Currently less than 10% of plastic packaging is recycled, and when it comes to flexible packaging, the percentage actually goes down to only 5%. We are excited to support TIPA®’s efforts in providing a sustainable and viable alternative solution to the pressing challenge of plastic waste reduction,” said Isabelle Laurencin, Senior Investment Manager at Triodos Organic Growth Fund.
“As one of the earliest investors in the company, we are excited by TIPA®’s growth and the adoption of its technology by leading global brands,” said Gideon Soesman, Co-Founder & Managing Partner of GreenSoil Investments. “We are happy to continue extending our support for TIPA® and its management team in making the world a better place.”
Inspired by nature, TIPA®’s compostable packaging solutions are designed to break down within months under compost conditions just like any organic matter, such as orange peels. TIPA® packaging provides solutions for the food and fashion industries, and is built to fit existing machinery and supply chains. The company’s packaging solutions are currently being implemented worldwide by leading global brands in Europe, Australia, and the US.
TIPA® has recently been named a ‘Technology Pioneer’ by the World Economic Forum, joining a prestigious list of companies from around the world involved in the design, development, and deployment of new technologies and innovations who are poised to have a significant impact on business and society.
Source: TIPA, press release, 2019-09-09.