Lumio, the Bengaluru-based consumer electronics brand operated by Circuit House Technologies, has raised $12 million (about Rs 115 crore) in a Series A funding round led by Blume Ventures, with participation from existing investors Stellaris Venture Partners and 3one4 Capital.
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Circuit House Technologies plans to use the fresh capital to strengthen its research and development (R&D) capabilities, expand Lumio’s product portfolio, hire talent, build the brand and improve after-sales services across India.
Founded by Raghu Reddy and Kailash Sankaranarayanan, Circuit House Technologies launched Lumio’s first smart TVs in April 2025. The brand has since expanded its home entertainment portfolio to include Arc projectors and Aura speakers.
The funding comes about 18 months after Lumio entered the Indian smart TV market, as the brand looks to expand its presence in the consumer electronics sector.
Lumio crosses Rs 100 crore in GMV within 13 months
According to the company, Lumio crossed Rs 100 crore in gross merchandise value (GMV) within 13 months of starting commercial sales. It also reported more than threefold year-on-year growth in GMV during the April-August 2026 period.
The brand said its products have reached more than 35,000 households across over 5,000 pin codes in India, despite operating without its own retail stores or television advertising.
In its investment commentary published on 7 October, Blume Ventures said Lumio generated approximately Rs 60 crore in net revenue during its first year of operations.
The investor also said Lumio’s average selling price stood at around Rs 32,500, approximately 1.6 times the category average.
GMV refers to the total value of merchandise sold before deductions and is different from a company’s recognised revenue.
Funding to support R&D, new products and offline retail expansion
A significant portion of the funding will be directed towards R&D as Lumio prepares to enter new home electronics categories while strengthening its existing television, projector and speaker portfolio.
The brand also plans to invest in software development, particularly its TLDR application, which provides access to sports updates, entertainment content and recommendations on its devices.
Lumio has also introduced Project Neo, an AI-powered content discovery feature built into the TLDR application.
Currently available in public beta on supported Lumio Vision TVs and Arc projectors, the feature allows users to search for films, television programmes and other entertainment content by sending messages through WhatsApp or Instagram.
Users can make requests in multiple languages, including English, Hindi, Tamil, Telugu, Malayalam, Marathi, Kannada and Odia.
Beyond product development, Lumio intends to establish a selective offline retail presence, allowing customers to experience its devices before making a purchase.
It also plans to strengthen quality checks across manufacturing and delivery, accelerate product development and expand its after-sales support network.
The company reports having more than 300 service centres covering over 19,000 pin codes across India.
“In about a year and a half, we have shown we can build products Indian households want, across more than one category. This round lets us invest in the two things that compound: a brand people trust in their living room, and R&D that keeps bringing new categories and devices into the home,” said Kailash Sankaranarayanan, Co-founder and COO of Circuit House Technologies.
Blume Ventures sees opportunity in India’s home entertainment market
Blume Ventures is backing Lumio as it sees an opportunity among affluent Indian households increasingly considering alternatives to established consumer electronics brands.
According to the investor’s October 2026 commentary, approximately 64% of Lumio’s buyers are upgrading from established brands, including Sony, Samsung, LG and Xiaomi.
Sajith Pai, Partner at Blume Ventures, estimates that India has between 30 million and 35 million affluent households whose preferences for home entertainment products are changing.
“India’s 30-35 million affluent households are reimagining their living rooms, and no longer default to legacy brands,” Pai said.
The investment firm has also highlighted the founders’ previous experience in consumer electronics, retail and marketing as a factor behind its decision to invest.
Before founding Circuit House Technologies, Reddy served as CBO at Xiaomi India, where he helped develop the company’s television business. Sankaranarayanan previously held category management roles at Flipkart and marketing positions at TI Cycles and Hindustan Unilever.
Blume Ventures estimates that India’s television market generates around Rs 60,000 crore in annual sales, of which approximately Rs 12,000 crore comes from online channels.
