GreenSoil Investments, a food and agro-innovation fund, has invested in Israeli provider of biodegradable flexible packaging solutions Tipa.
The money generated from the investment will enable Tipa to speed up its product and business development activity with food manufactures in Israel and overseas.
GreenSoil Investments managing partner Gideon Soesman said that less than 5% of the flexible packaging market can be recycled and the rest ends up in landfills, while Tipa's solution can be disposed of without polluting the environment.
"The flexible packaging market, estimated at over $65 Billion worldwide, is searching for innovative and sustainable solutions," Soesman said.
Tipa co-founder and CEO Daphna Nissenbaum said: "Our solution is based on over three years of intensive research and development."
The investment in Tipa represents GreenSoil's third since its inception in December 2011, and the first through its second fund GreenSoil Investments II.
Tipa offers biodegradable flexible packaging solutions for the food and beverage industry, which completely dissolve within 180 days.
GreenSoil Investments has a portfolio of venture capital and private equity funds focused on investing in companies that create value through offering products and services which enable smart resource utilisation.