MIT Startup Specializes in IT/OT Convergence

2Q 2017 | IN-4620

Another Industrial Internet company out of MIT, Tulip, has started to blossom. Tulip raised US$13 million in its Series A Funding. In August 2016, Formlabs—the additive manufacturing company founded by MIT Media Labs—raised US$35 million in Series B Funding. Formlabs currently has more than 250 employees in the U.S., Germany, Japan, and China. It produces two 3D printers for enterprises: Form 2 (a desktop 3D printer) and Fuse 1 (a slightly larger industrial machine). Tulip, however, builds smart manufacturing apps for IT/OT convergence to assist workers and engineers on the shop floor.

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