Startup Tulip raises $39.5 mln, partners with DMG MORI
24/09/2019 14:00
TEL AVIV, Sept 24 (Reuters) - Tulip, which has developed a
manufacturing app platform, said on Tuesday it raised $39.5
million in a private funding round.
Tulip customer DMG MORI, a German manufacturer of machine
tools, is joining venture capital funds Vertex Ventures, NEA and
Israel's Pitango to help Tulip expand in the small and medium
size enterprise market in Europe, the Middle East and Africa and
Japan.
Tulip will partner with DMG MORI, whose customers will be
able to customise Tulip apps to orchestrate the production
process on their DMG MORI machine tools, to monitor and increase
productivity.
Founded by Israelis and based in Massachusetts, Tulip will
open an office in Munich to support its alliance with DMG MORI
and its planned expansion in Europe.
(Reporting by Tova Cohen)
((tova.cohen@thomsonreuters.com; +972-9-899-0222; Reuters
Messaging: tova.cohen.thomsonreuters.com@reuters.net))