Is 3D Printing's Steve Jobs About to Change Everything? Shocking Israeli Startup Deal Exposed!

Dr. Natan Linder, a name synonymous with innovation in the tech industry, is making a significant return to Israel after a 16-year hiatus in Boston. Linder, who previously founded the prominent 3D printing company Formlabs, has turned his focus towards the industrial software realm with his company Tulip, which is now acquiring the Israeli AI startup Akooda. This strategic move aims to establish Tulip’s first research and development center in Tel Aviv.

The acquisition of Akooda, which boasts technology that will integrate AI capabilities into Tulip's platform, represents a pivotal shift for both companies. For the Akooda team, this merger provides a chance to transition from a speculative tech realm into a more practical environment, working directly with engineers and product designers to deliver real-time insights in manufacturing processes. Although the financial details of the deal remain undisclosed, it is speculated that the total valuation is unlikely to match Akooda's previous peak valuation of $20 million or its total investment of $11 million. Nevertheless, investors express satisfaction, particularly given that some of the consideration involved Tulip equity, reflecting the company's ongoing growth trajectory.

All eight Akooda employees will transition to Tulip, making this acquisition not just a product and customer base acquisition but essentially an "acqui-hire." Linder expressed a long-held desire to return to Israel, stating, “I began my career at multinational companies in Israel 20 years ago, but my dream was always to come back to Israel in some form.” His relationship with Akooda's CEO, Yuval Gonczarowski, flourished over time, eventually leading to this collaboration. “What I aim to do aligned with what Akooda was building,” Linder added, highlighting the natural synergy between their goals.

Tulip, which has grown to 300 employees and raised a total of $153 million, is a leader in providing software solutions for manufacturing engineers. The company’s last funding round in 2021 valued it at $800 million, a testament to its steady growth and resilience in a challenging market.

Akooda, founded by CEO Yuval Gonczarowski and CTO Itamar Nidam—both alumni of Israel's elite intelligence unit 8200 and the Technion—has developed a platform designed to streamline data analysis within organizations. Even prior to the AI boom, Akooda's technology aimed at connecting internal systems and extracting insights to enhance management processes.

Dr. Linder's career trajectory is as intriguing as the innovations he champions. He grew up inspired by his engineer father and began programming at a young age. After serving in the Israeli Air Force's intelligence unit, he worked with Ness Technologies and Sun Microsystems. His entrepreneurial spirit took flight when he participated in a startup program at IDC Herzliya, which led to his role in establishing Samsung's R&D center in Israel at just 25 years old.

In 2011, Linder co-founded Formlabs while completing his PhD at MIT. The company, which garnered attention for its desktop 3D printers, raised significant funding, including $3 million from a Kickstarter campaign. Despite many 3D printing companies faltering, Formlabs continues to thrive, now valued at $250 million and boasting 70,000 customers worldwide.

Recognizing a gap between outdated manufacturing technologies and modern IT solutions, Linder founded Tulip in 2014. His aim was to develop a platform tailored to manufacturing engineers’ workflows, enabling them to easily create apps without coding. “There aren’t enough software engineers in the world, especially in manufacturing,” Linder noted, emphasizing the need for user-friendly solutions in complex environments.

With AI now at the forefront of manufacturing technologies, Linder has forged partnerships with major players like Microsoft and Amazon. Tulip's integration of AI capabilities aligns with the ongoing digital transformation in manufacturing, enhancing operational efficiencies. As Linder explained, “We started working with Microsoft two years ago and released the first copilot to the market,” illustrating how AI is reshaping the manufacturing landscape.

Despite challenges, including the impacts of COVID-19 and geopolitical tensions, Tulip has maintained a growth rate of 40% and is inching toward profitability. Linder remains optimistic about Tulip's future, asserting, “We are getting closer to triple-digit ARR with 40% growth.” He remains committed to building a strong independent company, aiming for Tulip to become the “Salesforce of operations” within the manufacturing sector.

The merger with Akooda integrates deep expertise in AI and advanced technologies into Tulip, significantly enhancing its mission to empower frontline manufacturing workers. “Joining Tulip allows us to bring this vision into the heart of manufacturing processes,” said Gonczarowski, now a product lead at Tulip. This collaboration aims to deliver substantial advancements in operational intelligence, potentially reshaping the manufacturing landscape.