The Israeli startup Tipa, founded by Dafna Nissenbaum, develops consumable packaging. The company’s total fundraising stands at $ 123 million
Source: Tipa
It is enough to look at the garbage collected every day from the shores of the country or the garbage left behind by righteous travelers at the tourist sites in Israel, to understand the serious consequences of non-perishable packaging. The Israeli cleantech startup Tipa, founded by Israeli entrepreneurs Dafna Nissenbaum and Tal Neumann, and a packaging developer that consumes “like orange peels”, announced today (Sunday) the completion of a new round of raising $ 70 million.
Like an orange peel
The packaging that Tipa develops should have a lifespan similar to organic waste. The company compares the packaging of the products to an orange peel, which eventually degrades 100%, and allows for additional uses. Under “compost” conditions, the packaging is expected to decompose within six months – compared to the 450 years required for PET (ie, plastic) to decompose at landfills. According to Tipa, the flexible plastic packaging market is estimated at $ 160 billion, and is expected to reach $ 200 billion in 2025.
Daphne Nissenbaum. Photo: Adi Orni
Tipa was founded in 2010 by two well-known entrepreneurs in the local high-tech market: the company’s CEO Dafna Nissenbaum and Tal Neumann, who has since retired from the company’s day-to-day management. Tipa products are sold in the United States, France, England and the Netherlands. The company’s offices are located in Hod Sharon and New Jersey. The company’s current round of funding was led by Millennium Food-Tech and Meitav Dash, and was also attended by other strategic and financial investors, including Migdal Insurance Company. Since its inception, the company, which employs 70 people, has raised about $ 130 million.
Daphne Nissenbaum, CEO of TIPA, said of the recruitment process: “More than ever, the world today urgently recognizes finding alternatives to polluting plastic packaging. The encounter with the plastic garbage has become a daily reminder of this. This insight has been well internalized in recent years among manufacturers and marketing networks around the world. In recent years, we have witnessed a sharp increase in the demand for environmental packaging solutions from consumers. ” Nissenboim added: “The company’s current round of recruitment is intended to support the company’s rapid growth and will enable a broad response to the growing demand of the market. The vast knowledge accumulated, the partnerships with key players in the market together with the current recruitment make it possible to break into the center of the stage of the future of sustainable packaging. ”
In addition to the announcement of the recruitment, the company announced that it has signed a cooperation agreement with AMCOR, the world’s largest packaging manufacturer, which will allow its packaging, which bears an international standard mark for industrial and domestic compost, to reach markets in Australia and New Zealand. The company has offices in Israel, London and the United States.
Yaniv Avital
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