DMG Mori, an existing customer of MIT spinout Tulip, has contributed to a round that closed at $39.5m, alongside Vertex Ventures, NEA and Pitango.
Tulip, a US-based no-code manufacturing app platform spun out of Massachusetts Institute of Technology (MIT) completed a $39.5m series B round on Tuesday that was backed by cutting machine tools manufacturer DMG Mori.
Vertex Ventures, a venture capital subsidiary of Singaporean state-owned investment firm Temasek, also took part in the round, as did VC firms New Enterprise Associates (NEA) and Pitango Venture Capital.
Spun out of MIT Media Lab in 2012, Tulip has built a platform that allows manufacturing engineers to develop apps for use on the shop floor without writing any code, starting either from scratch or customising an app template.
The system includes analytics capabilities, allowing factory workers to generate real-time reports and visualisations. DMG Mori, an existing client of Tulip, made its investment in connection with a strategic partnership and will integrate Tulip’s technology with its machine tools.
Tulip intends to open an…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
