The company plans to use the fresh capital to strengthen its research and development (R&D) capabilities, expand its product portfolio, recruit talent, build brand awareness and improve after-sales services across India. The investment comes around 18 months after Lumio entered India’s smart television market, as the company looks to establish a broader presence in the country’s home entertainment sector.
Founded by Raghu Reddy and Kailash Sankaranarayanan, Circuit House Technologies launched Lumio’s first smart televisions in April 2025. Since then, the brand has expanded beyond televisions into home entertainment products, including Arc projectors and Aura speakers.
The latest funding is expected to support the company’s next phase of growth, with investments planned across product innovation, software development, customer service and distribution.
Lumio Crosses ₹100 Crore in GMV Within 13 Months
According to the company, Lumio crossed ₹100 crore in gross merchandise value (GMV) within 13 months of commencing commercial sales. It also reported more than threefold year-on-year growth in GMV between April and August 2026.
The company 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.
Blume Ventures reported that Lumio generated approximately ₹60 crore in net revenue during its first year of operations. The investor also stated that the brand’s average selling price was around ₹32,500, approximately 1.6 times the category average.
GMV represents the total value of merchandise sold before applicable deductions, whereas net revenue reflects the revenue recognised by a business. The two metrics therefore measure different aspects of commercial performance.
The reported figures indicate that Lumio has established an initial customer base through its existing sales channels, while the new investment provides additional resources to expand its product range and reach more households.
Funding to Accelerate R&D, Product Innovation and Retail Expansion
A significant portion of the funding will be directed towards research and development as Lumio prepares to enter additional home electronics categories and strengthen its existing television, projector and speaker portfolio.
The company also plans to invest in software development, particularly its TLDR application, which offers sports updates, entertainment content and recommendations through its devices.
Lumio has introduced Project Neo, an artificial intelligence-powered content discovery feature integrated into the TLDR application. Available in public beta on supported Lumio Vision televisions 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 interact with the feature in multiple languages, including English, Hindi, Tamil, Telugu, Malayalam, Marathi, Kannada and Odia. The functionality is intended to make content discovery more accessible by allowing users to describe what they want to watch through familiar messaging platforms.
Beyond software and product development, Lumio plans to establish a selective offline retail presence so that customers can experience its devices before making purchasing decisions. The company also intends to strengthen quality checks across manufacturing and delivery, accelerate product development and expand its after-sales support network.
Lumio currently reports having more than 300 service centres covering over 19,000 PIN codes across India. Strengthening this network will be important as the company expands its customer base and enters additional product categories.
Kailash Sankaranarayanan, Co-founder and Chief Operating Officer of Circuit House Technologies, said the funding would allow the company to invest in two long-term priorities: building a consumer brand that households trust and developing the R&D capabilities required to introduce new products and categories.
Blume Ventures Sees Opportunity in India’s Home Entertainment Market
Blume Ventures is backing Lumio as it sees an opportunity among affluent Indian households that are 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 evolving.
The investor believes these consumers represent an opportunity for brands that can differentiate themselves through product quality, software experiences, design and customer service.
Blume Ventures has also highlighted the founders’ experience in consumer electronics, retail and marketing as a factor behind its investment decision.
Before founding Circuit House Technologies, Raghu Reddy served as Chief Business Officer 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.
Their combined experience is expected to support Lumio’s efforts to develop products, establish distribution channels and build a stronger presence in India’s competitive consumer electronics market.
India’s Television Market Offers Scope for Expansion
Blume Ventures estimates that India’s television market generates approximately ₹60,000 crore in annual sales, with around ₹12,000 crore coming from online channels.
The market presents opportunities for brands that can attract consumers through differentiated products and direct online distribution. However, expanding beyond online sales also requires investment in physical retail, service infrastructure and customer support.
Lumio’s planned expansion into offline retail, alongside its investments in R&D and software, reflects an effort to build a broader consumer electronics business rather than remain focused exclusively on smart televisions.
The company will also need to sustain product innovation and service quality as its portfolio expands into additional categories. Its ability to retain customers, strengthen distribution and compete with established manufacturers will be important as it scales operations.
The $12 million Series A funding round gives Circuit House Technologies additional capital to pursue these priorities. With backing from Blume Ventures, Stellaris Venture Partners and 3one4 Capital, Lumio is seeking to build on its early sales growth and establish a larger presence in India’s home entertainment market.
Disclaimer: This report has been editorially prepared using publicly available information and official company disclosures. Readers are advised to refer to official company announcements/disclosures for further details.
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