RESIDENTIAL
TULU, Appliance Rental for Apartment Dwellers, Pulls in $20M Series A
Commercial Observer | Apr 21, 2022
RESIDENTIAL
TULU, Appliance Rental for Apartment Dwellers, Pulls in $20M Series A
Commercial Observer | Apr 21, 2022
TULU, a startup that rents appliances like vacuums and mops to apartment dwellers, raised $20 million in a Series A round, less than a year after its seed round closed, the company announced Wednesday.
The Series A funding — led by New Era Capital Partners — will be used to help fund growth for TULU and its work on new partnerships with landlords and brands, with the goal to expand to 1,000 buildings in the next two years, according to TULU.
TULU sets up its wares on a spare wall in an apartment building, usually close to the lobby, and offers residents the ability to rent products, including electric scooters, virtual realtity headsets and printers, starting at $2 per half-hour. It also has a store where people can buy cleaning supplies and food.
“The idea behind TULU is simple — it doesn’t make sense for everyone to own a drill, vacuum, e-scooter or even printer, Yael Shemer, chief customer officer and co-founder of TULU, said in a statement. “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.”
The company is currently in 130 buildings in 15 cities in the United States, Europe and Israel and counts Greystar Real Estate Partners, RXR and The Moinian Group as its users.