Manufacturing automation software company Tulip raised $120 million in Series D funding, SiliconANGLE reported on Jan. 15.
The funding valued Tulip at $1.3 billion, putting it in the unicorn category. The round was led by Mitsubishi Electric, which formed a strategic partnership with Tulip last year.
Tulip uses a cloud-based no-code platform to help manufacturers digitalise production processes and connect workers, machines and equipment. Positioned as a solution to replace existing manufacturing execution systems (MES), it also lets workers build customised applications without separate coding.
The platform offers a drag-and-drop app builder and data collection and analysis tools. It links with ERP and PLM systems to create automated workflows. It also includes quality assurance functions, supporting digital checklists, defect tracking and AI-based quality inspections.
Tulip Chief Executive Nathan Linder said, "Through cooperation with Mitsubishi Electric, we will expand AI-based automation and accelerate human-centred digital innovation." He added, "The goal is not for technology to replace humans, but to help workers demonstrate stronger capabilities through AI."
Chi-gyu Hwang
delight@d-today.co.kr