Li Ka-shing to invest in Israeli start-up Tipa: report

JERUSALEM - Hong Kong billionaire Li Ka-shing is leading a $10 million (S$12.5 million) investment round in Israeli start-up Tipa, which has developed packaging for beverages that it says is biodegradable within 180 days, Israeli financial daily Calcalist reported on Tuesday.

Li's Horizon Venture has already enjoyed a few successful exits in Israel - mapping company Waze which was acquired by Google and mobile app-maker Onavo, which sold to Facebook - and Calcalist said Horizon will join current Tipa investors for the latest funding round.

Tipa could not be reached for comment, but one of its current investors, GreenSoil Investments, referred to the Calcalist report on its website.

According to Tipa's website, the four-year-old company's drinking pouches, in addition to being environmentally-friendly, will also reduce shipping and inventory costs for food and beverage makers.