Infinity VC joins TULU’s US $20M Series A funding round
Infinity VC, a venture capital firm headquartered in New York, announced its participation in a Series A investment in TULU, a smart tech platform that provides building tenants with on-demand access to hundreds of brand name appliances, grocery staples, micro-mobility solutions and entertainment devices.
The funding is led by VC New Era Capital Partners and strategic investors such as Robert Bosch Venture Capital, Kärcher New Venture and Round Hill Ventures. Additional 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, with a goal to reach hundreds of buildings in existing and additional markets in the next 12 months, to feed its Usage Economy platform.
Launched in 2019 in Tel Aviv and now operating on three continents with headquarters in New York, TULU is on a mission to reshape the way urban dwellers use and consume household products, by making them available on-demand. The team already works with the largest landlords in the world such as Greystar, Brookfield, Invesco, and Blackstone in residential buildings, student housing and offices across the eastern United States, the Netherlands, Israel, England, and Ireland. The new funding will allow TULU to pursue new partnerships with landlords and brands, with a goal to reach 1,000 buildings in existing and additional markets, to feed its Usage Economy platform.
Founded by Israeli entrepreneurs Yael Shemer, an environmentalist, and Yishai Lehavi, an architect, TULU team builds an in-building smart platform that provides tenants with on-demand access to appliances, grocery staples, micro-mobility devices, and much more. In 2021, TULU has raised $4.8 million in seed round from various investors in Israel and the US, including Ground Up, i3 Equity Partners, Kairos and Good Company, alongside MIT’s venture fund (MET) and several angel investors.
Giorgi Aleksidze, Managing Partner at Infinity VC said:
“There’s a massive shift in consumer behaviour and this trend will only continue growing. Gen Y and Gen Z consumers are fully usage-driven as opposed to Baby Boomers and Gen X having focus on ownership-driven consumption. TULU has anticipated this change in consumer values, and we are glad to support this diverse team of engineers, designers and data scientists with our investment on a mission to meet the next generation demands.”
Yishai Lehavi, CEO and Co-founder at TULU said:
“The new round of funding will enhance the ability of our platform to power the Usage Economy and accelerate the change in consumption behavior. We are thrilled to partner with so many innovative and forward thinking companies – from both the landlord side and the brand manufacturer side – who use TULU’s platform to elevate their offering to win today’s needs-driven consumers.”
TULU (www.tulu.io) is the usage economy platform and amenity services provider to over 50,000 people in 15 cities across the United States, United Kingdom, Europe and Israel. Founded in 2019, TULU provides building tenants with on-demand access to hundreds of brand name appliances, grocery staples, micro-mobility and entertainment devices, and more. Using IoT, data analysis and smart design, TULU maximizes building space and product usage, encourages a shared economy system and overall sustainable quality of life. To date, TULU has raised $25 million in seed and series A funding.
About Infinity VC
Infinity VC (https://infinityvc.net/) invests in teams and companies from seed to emerging growth stage and provides a powerful combination of capital and alternative resources. The company aims to create breakthrough technologies, transformational business models and strong intellectual property to change the world. In 2021, Infinity VC has invested in Trac, a disruptive music startup that provides recording artists with free unlimited music distribution, and Identomat, a company developing innovative AI-based identity verification solutions.
Infinity invests into Trac, a disruptive music startup that allows artists to remain independent
Infinity has made a seed round investment in Trac, a new music platform that allows artists to sell their music, build their brand and track their influence while maintaining 100% of the revenue. The seed funding will enable trac to strengthen its marketing and operational teams. As Giorgi Aleksidze said, Infinity Group invested in trac because of the belief that demand for this kind of service would continue to grow.
According to recent surveys, 81% of independent musicians state that the contractual relationship with a record label no longer matters and that now is the time to cross the line and democratize the music business. In addition, 59% of independent artists say they would rather manage their rights and use a distributor just to gain some creative control.
Trac is a great idea that appeared at the right time and in the right place. The platform is perfectly positioned and has everything to increase its turnover and become a market leader in its field. The project has a grand vision, which is supported by a great team and a roster of strong consultants. Trac just closed a seed round with an estimate of 8.5 million, and we are happy to have been a part of it. – Georgy Alexidze, investor
Trac is a technologically oriented music platform designed for artists to assert their independence, without being tied to other services or major labels. With a monthly subscription, users get access to trac’s suite of supporting tools in marketing, finance, and analytics – no prior knowledge required. Using automation and machine learning, trac gives independent artists the ability to manage their careers in the palm of their hands.
The demand for the services provided by trac is growing every day. More and more independent musicians are learning about us, becoming our users, and recommending us to others. When we launched our startup, our goal was to redefine the music ecosystem and create a stable middle class in music, empowering musicians to be productive while remaining independent. And we’re on the right way, because with trac both aspiring and up-and-coming musicians get all the tools they need to promote their own label. That’s why our slogan is, “Sign up for yourself. Become your own label. – Cardin Campbell, CEO, and founder of Trac Technologies, Inc.
Sell your music – trac’s financial services include:
- Music Distribution. With trac, you can release music on all the most popular streaming services (and 200+ more) such as Spotify, Apple Music, TikTok, Instagram, Tidal, YouTube, Amazon Music, Pandora, Tencent, iHeart Radio and more.
- Automated payments. The ability to share ownership of a song with co-writers with automatic payments to each of them.
- Term Agreements. Creators can share ownership for a set period.
Build your brand – trac’s marketing services include:
- Musician Profile Creation and Support. TracPages are automatically created and maintained web pages for artists, so they can focus on what’s important – making music.
- On-Demand Merch. In a few clicks, artists can create and ship merch to their fans globally. As always, they keep 100% of their earnings.
- Manage fan relationships. Trac provides all the tools artists need to get fans closer to their favorite artist.
Track your impact – trac’s analytics services include:
- Performance Analytics. Analysis of all streams, revenue, fan demographics, etc. on a dynamic basis.
- Predictive analytics. Predicting possible future flows and revenues with optimization recommendations.
With trac, every aspiring musician-composer will earn 100% of their income from streaming. This platform meets the needs of today’s independent artists at any stage of their creative journey and offers all the tools needed to launch, grow and sustain their careers.
To subscribe to Trac, visit: https://trac.co/