Industrial IoT Company Tulip Raises $18.4 Million

Industrial IoT company Tulip Interfaces Inc. announced Sunday it has completed an $18.4 million series B funding round. The round was led by Palo Alto-based early stage venture capital firm Vertex Ventures US, with participation from New Enterprise Associates (NEA) and Israel-based firm Pitango Venture Capital.

Tulip offers manufacturers a no-code platform for creating IoT-enabled digital tools and applications. The company was founded by Israeli entrepreneurs Natan Linder and Rony Kubat and launched in 2014 out of the Massachusetts Institute of Technology’s Media Lab. In 2017, Tulip announced a $13.2 early stage funding round led by NEA and joined by Pitango. With the new funding, Tulip said it will more than double its workforce by the end of the year.