SoftBank's Latin America Fund took part in the construction materials marketplace’s latest round at a reported valuation of $800m.
Colombia-headquartered hardware marketplace Tul has secured $181m in series B funding from investors including telecommunications group SoftBank, Bloomberg reported yesterday, with construction technology continuing to prosper in Latin America.
Venture capital firm 8VC led the round, which also featured Avenir Growth Capital, Coatue Management, Tiger Global Management, Monashees, Lightrock, Foundamental, Vine Ventures, Marathon Labs and H20 Venture Partners.
SoftBank took part through its Latin America Fund, Tul CEO and co-founder Enrique Villamarin told Bloomberg. The round valued it at $800m according to a source privy to the matter, and took its overall funding to almost $210m since it was founded in early 2020.
Also known as Tül, the company has built a business-to-business (B2B) stock management and invoicing app that helps some 600,000 Latin America-based hardware stores digitalise their businesses and sell hardware and building materials to construction professionals directly on the platform.
Tul has formed alliances with key construction…
