The Wanderers striker had featured in just one of Ian Evatt’s squad over the first five games in league and cup this season.
Nlundulu featured 28 times for Bolton last season but missed a large chunk of the campaign with a hamstring injury picked up in a Bristol Street Trophy game against Port Vale.
He had spent some time on loan from Southampton in the previous season, showing enough to convince Ian Evatt to part with a six-figure fee to bring him to Wanderers on a full-time basis.
He struggled to win over his doubters, however, and though his performances and goal return had started to noticeably improve before his injury, he was only able to play a bit-part when he became available for selection again in April.
Pre-season saw Nlundulu feature prominently, hinting that he could finally be gaining some traction in a Whites shirt, but despite being named as an unused substitute in the opening day win against Leyton Orient, he failed to get ahead of Dion Charles, Victor Adeboyejo, Aaron Collins or John McAtee for an attacking spot.
Cambridge already have one former Wanderer in their ranks, Elias Kachunga, and Nlundulu is expected to go straight into their squad for the weekend’s trip to Bristol Rovers, a ground at which he scored for Bolton on the final day of the regular 2022/23 season.
“I am really happy to be here. It’s a great opportunity for me to do well for myself and to do well for the team,” Nlundulu told Cambridge’s official website.
“I need a manager that is emotionally connected with the player and that’s what I am getting here. We had a great meeting and everything felt right. For me and my people it was a no-brainer.”
U’s boss Garry Monk added, “Dan is an extremely talented forward who will add a lot to the team this season. I am delighted to welcome him to the Club.
“He is a dynamic player that has all the attributes we have been looking for to add to our striker options. I am really pleased that he is with us and look forward to working him over the course of the year.”