Back in May, Magic Number highlighted the patent and market activity of TIPA. Recently, Millennium Food-Tech invested $4 million in TIPA. This brings TIPA’s total funding to $53 million since its founding in 2010. TIPA is becoming a major player in the biodegradable packing sector as shown in the Patent Radian® below:
TIPA has 9 patent documents since the beginning of 2019, with 4 of those documents being issued patents. Additionally, TIPA has two patent applications published around September 2020 so it is still investing in its patent portfolio. TIPA is expanding its market position in addition to developing its patent portfolio. In just the past two months: (1) TIPA has partnered with Commonwealth Packaging company to help designers and fashion houses reinforce a sustainability ethos throughout its supply chain, (2) Avangarde France launch its first collection with TIPA compostable packaging, (3) it expanded into the Italian market, and (4) Abel & Cole adopted TIPA’s compostable bags for its herbs.
Clearly, there is a market demand for TIPA’s product. The global flexible packaging market is expected to reach an estimated $200 billion by 2025. TIPA has increased its sales every year since 2017 and appears to be positioning itself for success in the growing market. While mergers and acquisitions are not common in the biodegradable packaging sector, many companies form partnerships to address their packaging needs. Therefore, anyone involved in the biodegradable packaging sector should be aware of TIPA, particularly companies that use a large number of plastic bags (e.g. Walmart) .
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