Israeli compostable flexible packaging company TIPA has announced the completion of a $25 million financing round with funding from Blue Horizon Ventures, Triodos Organic Growth Fund and existing investors Chestnut and GreenSoil Investments.
The new funds will enable the Hod Hasharon-based company to continue growth, expand sales to new countries, and further develop its packaging solutions.
TIPA cofounder and CEO Daphna Nissenbaum said, "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. 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."
Blue Horizon Ventures cofounder and managing partner Michael Kleindl said, "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."
Published by Globes, Israel business news - en.globes.co.il - on September 10, 2019
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