Somerville-based Tulip, a developer of a no-code manufacturing app platform, has raised $39.5 million in a Series B round led by DMG MORI, Vertex Ventures, NEA and Pitango.
The money won't go toward growth in Greater Boston, though: It'll be used to fuel Tulip's expansion in EMEA (Europe, the Middle East and Africa) and Japan. As part of that expansion, the five-year-old startup will open an office in Munich, Germany.
The Series B financing also represents a partnership between Tulip and lead financier DMG MORI, which also happens to be the world's leading manufacturer of machine tools, according to a press release from Tulip. DMG MORI customers will be able to customize Tulip apps to suit their machine tools for better productivity on the manufacturing floor.
“We could not have asked for a better partner," Tulip CEO Natan Linder said in the press release. "With the Manufacturing App Platform and our new no code machine monitoring capabilities, machining customers will be able to significantly improve productivity."
The round comes fairly close on the heels of funding announced in February in the amount of $18.4 million, led by Vertex Ventures US with participation from NEA and Pitango Ventures. That funding is being used to expand the company's operations stateside: It is currently hiring for its engineering, marketing and customer operations teams in Somerville.
Tulip launched five years ago with the goal of giving operators and front-line engineers on the manufacturing floor better tools to do their job. By plugging into various tools, machines, sensors and IT backend systems, Tulip’s platform allows people to create apps for things like interactive work instructions, quality control, automatic data collection, training and machine monitoring.
The company's CEO, Linder, is also one of the co-founders of Formlabs.
