Round Hill Ventures joins TULU’s $20 Series A round
When I was in my 20s, on average, I moved just about every year. There was one crazy period where I moved 3 times in five months. Every time I moved, I threw away more and more things even though I knew I would just have to purchase them again once I finally got settled. It was a waste of energy, money, and frankly, not good for the environment. And when I did buy items like vacuums again, I bought the cheapest option because I anticipated tossing it the next year when I moved, yet again. My move and consumption patterns were a nightmare, but I wasn’t alone. It seemed all my friends and I did something similar living in large transient cities like New York and London. We all needed the basic appliances and necessities for our day-to-day lives, but we couldn’t afford quality products that were worth lugging around to the next phase of our life.
That’s why I’m excited to announce that Round Hill Ventures has invested in TULU, a start-up that provides on-demand access to day-to-day things at the convenience of being in the building. Many people want access to things such as vacuum cleaners, gaming consoles, cooking appliances, or just need two extra chairs for a dinner party or quick access to print a document, but don’t necessarily want to own the item. TULU provides the convenience of access that suits younger generations that are accustomed to the sharing economy and are in a transient period of their lives.
TULU provides last-foot convenience with item rentals, transportation, and a quick shop.
TULU provides not only day-to-day items, but also has TULU Ride with e-scooters and e-bikes and TULU shop, which allows people to buy quick necessities like paracetamol, toilet roll, or a pint of ice cream when they don’t want to run to the store. TULU also helps brands on two fronts: 1) Increase brand awareness to a younger generation 2) provide usage data that brands would not otherwise have. Lastly, we believe there will be less waste produced due to people renting items from TULU instead of buying a temporary option for now and throwing it away and re-purchasing a similar item when they move.
TULU creates stickier tenants with a clear differentiator for landlords.
By having a TULU unit in the building, landlords offer an amenity that tenants rave about and utilise often, increasing tenant satisfaction. Additionally, it further incentivizes tenants to move into another building with a TULU unit when they leave their current unit or building.
Round Hill Ventures will leverage our real estate connections to support TULU’s expansion across US and Europe.
RHV is excited for the upcoming growth of TULU and their already impressive geographic expansion. Additionally, RHV introduced TULU to Round Hill Capital, which are in talks now to put TULU into their buildings as well. We will continually introduce TULU to our real estate partners and assist with their expansion beyond their current footprint in the US and Europe.
Congratulations to Yishai, Yael, and the TULU team! We’re excited for the journey ahead.
