Back in 2017, Tulip raised a $13 million Series A, with help from NEA, Pitango Venture Capital and a handful of investors who were already on board for its seed round. Now the Somerville, Mass. startup is back with a Series B that’s three times that.
Germany tool maker DMG MORI has joined the ranks for a $39.5 million round along with the aforementioned names and Vertex Ventures. This latest round finds the manufacturing software company looking to grow its presence among small and medium enterprise businesses in Europe, the Middle East, Africa and Asia.
Tulip has gained a fair bit of notice in recent years for its manufacturing app platform that requires no coding. As part of the deal, DMG MORI announced a partnership with the startup that finds it looking to use Tulip’s apps to help automate assembly, training and quality control.
“We are proud of our new alliance. After all, digitization is human-centered. With the no-code platform, employees can autonomously create manufacturing apps,” DMG MORI chairman Christian Thönes said in a release tied to the news. “Tulip is the ideal entry into digitization mainly for our medium-sized customers.”
The partnership also finds Tulip opening an office in Munich, to help support European growth.
Source: TechCrunch
