Tulip Reaches $1.3B Valuation with $120M Series D Led by Mitsubishi Electric

Tulip announced today that it has raised $120 million in Series D funding led by Mitsubishi Electric Corporation. This latest round brings the Boston-based frontline operations platform to a $1.3 billion valuation, cementing its status as an industrial technology unicorn. The investment is paired with a strategic alliance agreement aimed at overhauling digital transformation across the manufacturing sector.

The partnership focuses on replacing legacy, paper-based workflows with a composable, AI-native platform. Tulip’s technology allows manufacturers to build modular applications that connect people, machines, and systems without writing code. This move signals a definitive departure from traditional, rigid software toward agile and human-centric innovation.

Artificial Intelligence is at the core of Tulip’s future plans. The company is empowering frontline workers with "AI superpowers" by integrating generative capabilities that allow operators to solve problems using natural language. Customer adoption of these new AI features has grown by 364 percent over the past two years, proving a high demand for intelligent shop-floor tools.

The capital will also support Tulip's aggressive global expansion and headcount growth. Over the last three years, the company has grown its staff by 135 percent and opened new offices in Tokyo, Munich, and Singapore. Currently, Tulip apps support 60,000 workers across 1,000 customer sites in 45 different countries.

CEO Natan Linder emphasized that the goal is to champion the frontline workforce rather than automate people away. He noted that technology must work for the operators and engineers to foster innovation and trust. Together with Mitsubishi Electric, Tulip aims to strengthen competitiveness across the manufacturing industry and beyond.