TULU Raises $20M Series A for Usability-Saving Platform and Amenity Services
TULU, which has developed a smart technology platform that provides building tenants with on-demand access to hundreds of brand name appliances, basic groceries, micro-mobility solutions and entertainment devices, announced the completion of a $20 million Series A funding round, led by VC New Era Capital Partners and strategic investors including Robert Bosch Venture Capital, Kärcher New Venture and Round Hill Ventures. Other investors include Tal Ventures, AGP Ventures and Infinity Venture Company, along with follow-on investments from existing investors such as Ground Up Ventures, i3 Equity Partners and Good Company.
Co-founded by Israeli entrepreneurs Yishai Lehavi and Yael Shemer, TULU offers on-demand rentals of high-quality household products, housewares and perishables to reduce the cost of living and waste in compact city living. Using nothing more than a wall in a building’s lobby, tenant’s lounge, laundry room, or bike room, TULU’s IoT-based units provide 24/7 access to a variety of branded products, including vacuum cleaners, VR headsets, electric scooters, bicycles, and necessary household supplies. Units are customized to each building’s needs and core tenant base, where users rent or purchase products through the TULU app.
TULU is currently used by leading landlords such as Greystar Real Estate Partners, Brookfield Asset Management, Invesco, Round Hill Capital, RXR Realty and CA Ventures and the company has set a goal of reaching hundreds of buildings on the existing and additional markets in the next 12 months. Since its launch in 2019, TULU has served over 50,000 people in 15 cities in the US, UK, Ireland, Netherlands and Israel.
“The idea behind TULU is simple – it doesn’t make sense for everyone to own a drill, vacuum cleaner, electric scooter or even a printer. We created the platform to give city dwellers the choice to live a style minimal, sustainable and affordable living space, a rarity in traditional small urban apartments,” said Yael Shemer, Chief Client Officer and Co-Founder of TULU. “TULU’s unique technology provides easy and efficient access to home products that people need. tenants want access, without the cost and hassle of ownership.We are excited for the opportunity to rethink traditional consumerism and continue to create sustainable and accessible amenity services.
“TULU is becoming a leading vehicle in a fundamental shift in consumption paradigms, moving from an acquisition model to an on-demand model,” said Yishai Lehavi, CEO and co-founder of TULU. “Our platform eliminates the distance between end users and products, delivering products as a last-mile service where people live, work and play – buildings.”