Recycle this: in 2015, 146 million metric tons of polymer plastic packaging was produced; 141 million metric tons were thrown out.
Plastic sits in landfills for as long as 400 years before it starts degrading. Israeli startup TIPA has developed a compostable packaging material similar in durability and strength to regular plastic but that decomposes in 180 days (a bit longer if it’s tossed in the trash instead of the composter.)
Austin Hearst, of the media conglomerate Hearst Corp., and his wife, fashion brand founder Gabriela Hearst, led TIPA’s Series B round.
Gabriela Hearst will package her brand using TIPA’s products (designer Stella McCartney uses TIPA’s product as well as recycled ocean plastics).
Earlier investors GreenSoil Investments and Horizons Ventures also backed the round.