Lumio, the consumer technology brand from Circuit House Technologies, has raised $12 million (around Rs 115 crore) in fresh funding to expand its product range, strengthen R&D and build a bigger presence in Indian homes.
The funding includes a Series A round led by Blume Ventures, with participation from existing investors Stellaris Venture Partners and 3one4 Capital.
The company plans to use the new capital across three major areas, building Lumio into a household brand, investing heavily in research and development, and strengthening the software, teams and processes that shape the customer experience.
Founded by Raghu Reddy and Kailash Sankaranarayanan
Circuit House Technologies was founded by Raghu Reddy and Kailash Sankaranarayanan, who are building Lumio as a modern home entertainment brand for Indian consumers.
The company wants to move beyond being a brand mainly known among technology enthusiasts and become a name that is more widely recognised by households across India.
Lumio is already expanding across more than one product category and now plans to enter new areas of the home while going deeper into its existing products.
R&D to Drive New Products
A major part of the fresh funding will go towards research and development.
Lumio plans to launch new devices and categories for the home while continuing to improve its existing range. The company sees product innovation as one of the key drivers of its long-term growth.
Software will remain an important part of its strategy.
For its TVs and projectors, Lumio has developed TLDR and Project Neo, its AI-powered content discovery layer. Project Neo is currently available in public beta across nine Indian languages and is backed by multiple patent filings.
Building a Stronger Customer Experience
As Lumio expands its product portfolio, the company also plans to invest in the systems and people supporting customers.
This includes stronger quality checks from the factory to the customer's doorstep, a faster product development process and wider after-sales support.
Lumio currently has more than 300 service centres covering over 19,000 pin codes across India. The company plans to expand this network as it enters more categories.
It is also considering a strategic retail presence where customers can experience and test its products before making a purchase.
Blume Ventures Backs Lumio
Blume Ventures led the latest Series A, joining existing investors Stellaris Venture Partners and 3one4 Capital.
According to Blume, India's 30-35 million affluent households are changing the way they build and upgrade their living rooms, with consumers becoming more open to newer brands.
The investor also highlighted that nearly half of Lumio's customers are upgrading from legacy brands, showing that consumers are willing to move away from traditional home entertainment companies.
From Tech Enthusiasts to Household Brand
Lumio says it has shown in a relatively short period that it can build products that Indian households want across multiple categories.
With the latest funding, the company wants to focus on two long-term goals, building a trusted home entertainment brand and continuously developing new products for Indian homes.
The combination of hardware, AI-powered software and customer-focused services could help Lumio compete for a larger share of India's growing home entertainment market.
Key Numbers
- $12 million (Rs 115 crore) - Latest funding raised
- 300+ service centres - Current after-sales network
- 19,000+ pin codes - Service coverage across India
Founders: Raghu Reddy and Kailash Sankaranarayanan.
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