Israeli startup TULU which provides building tenants with on-demand appliances and amenities by listing available supplies on an app has closed a $20 million Series A funding round led by venture capital firm New Era Capital Partners and strategic investors including Robert Bosch Venture Capital, Kärcher New Venture, and Round Hill Ventures.
Also invested in the round Tal Ventures, AGP Ventures, and Infinity Venture Company, in participation of existing investors including Ground Up Ventures, i3 Equity Partners, and Good Company.
TULU supplies access to hundreds of brand-name appliances, grocery staples, micro-mobility solutions, and entertainment devices on-demand, on an app and making them available in nearby compact storage units. The units are fitted with IoT devices that monitor consumption and may advise users in real-time about available items and appliances. Additionally, this tracking permits the use of usage data to help optimize and expand future products.
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Since founded in 2019 TULU serves over 50,000 customers in 15 locations across the United States, the United Kingdom, Ireland, the Netherlands, and Israel.
Co-founded by Yishai Lehavi and Yael Shemer, TULU aims to help residents of tight city life save money and minimize waste. TULU’s IoT-based devices require no more than a wall in a building lobby, tenant lounge, laundry room, or bike room to enable 24/7 access to a selection of brand-name products like vacuum cleaners, virtual reality headsets, e-scooters, and bikes, as well as critical home supplies. Units are adapted to the demands of each building and its main tenant base, with users renting or purchasing things via the T.
TULU’s IoT-based units provide 24/7 access to a variety of brand-name products including vacuums, VR headsets, e-scooters, bikes, 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. The Units are customized to each building’s needs and core tenant base, where users rent or purchase products.
TULU is currently in use by leading landlords like Greystar Real Estate Partners, Brookfield Asset Management, Invesco, Round Hill Capital, RXR Realty, and CA Ventures and the company has set itself the goal to reach hundreds of buildings in existing and additional markets in the next 12 months.
“The idea behind TULU is simple – it doesn’t make sense for everyone to own a drill, vacuum, e-scooter or even printer. We created the platform to give urban dwellers the choice to live a minimal, sustainable and affordable lifestyle, a rarity in traditionally small urban apartments,” said Yael Shemer, Chief Customer Officer and co-founder of TULU. “TULU’s unique technology provides easy and efficient access to home products tenants want access to, without the cost and hassle of ownership. We are excited for the opportunity to rethink traditional consumerism and continue creating sustainable and accessible amenity services.” “TULU is becoming a leading vehicle in a fundamental shift in consumption paradigms, transitioning from an acquisition model to an on-demand model,” said Yishai Lehavi, CEO and co-founder of TULU. “Our platform eliminates the distance between the end-users and the products, providing the products as a last foot service, right where people live, work and play – buildings.”
