Manufacturing Startup Tulip Secures $13 Million

Tulip announced the close of $13 million in Series A financing. Three investors participated in the round, among them New Enterprise Associates and Pitango Venture Capital.

Tulip, a spinout from MIT, brings the power of industrial IoT and advanced analytics to the manufacturing workforce through its app platform. The self-service technology fills the gap between rigid back-end manufacturing IT systems and the dynamic operations taking place on the shop floor.

The company revealed that it will use the capital to grow its product, design, and research teams, while expanding customer support capabilities in response to significant customer growth.