Lumov, a Bengaluru-based maker of orthopaedic products and orthoses, is reportedly in talks with Peak XV Partners and others to raise Rs 32 crore, according to Venture Intelligence, which credits the Economic Times as the original source. The talks have not been confirmed by the company in the report, so the round should be treated as proposed, not closed.
What has been reported
Venture Intelligence reports that Peak XV Partners would lead the round. Participants would include the founders of consumer brands Minimalist and Mokobara, and the early-stage venture firm Panthera Peak Ventures. The funds would be used to support operations; no further breakdown is given.
Lumov was founded in 2024 by Saumaric Dangwal and Ankit Gupta. It designs and manufactures orthopaedic products and orthoses used in post-surgical recovery, rehabilitation and pain management. In September 2024, Lumov Health reportedly raised about $1 million from IIMA Ventures, Incubate Fund Asia, QRG, SIDBI VC and others. For FY25, the report says the company posted about Rs 0.03 crore in operating income and about Rs 0.56 crore in net loss. Those figures are as reported and have not been independently verified. More information about the company is on its website.
Why this matters for orthotics in India
Venture investors in India have recently concentrated on single-specialty healthcare, and orthopaedic and pain-relief products are part of that trend. A proposed round of this size for a company founded only two years ago suggests investors see room for branded, design-led orthoses sold at scale, in a market where much of the supply is unbranded, imported or made case by case in clinics.
The reported financials are small, which is typical of an early-stage company, and they show a business that is still at the beginning of its commercial journey. The funding talks are therefore a statement about expected demand rather than about proven revenue. Readers should also note that the report describes products used in post-surgical recovery, rehabilitation and pain management; it does not say whether Lumov’s products are prescribed or fitted by certified prosthetists and orthotists, or sold directly to consumers.
Bharat CPO Perspective
For Indian CPOs, the question is not whether a well-funded start-up will arrive in the orthoses category, but how clinicians position themselves when it does. Off-the-shelf and semi-custom orthoses from funded brands can widen access and raise patient awareness, especially in post-surgical care and pain management. They can also shift the first point of contact away from the clinic, towards e-commerce and orthopaedic surgeons’ recommendations.
Practical steps for clinics include: clarifying which conditions need assessment and custom fabrication rather than a standard product; documenting outcomes so that clinical value is visible to referrers; and keeping an eye on how new entrants handle sizing, fitting guidance and follow-up. Clinics may also find opportunities as distributors, fitters or clinical advisers if companies seek professional input.
The wider picture is an Indian market where capital is flowing into assistive technology and rehabilitation. Our earlier coverage of the ATF Awards for assistive technology start-ups and the Global Citizen and PayPal awards shows other routes by which founders in this space are seeking support. Readers following industry consolidation can also see how Ottobock is reshaping its portfolio, and more commercial news is in O&P Business.
What is still unknown
The report does not say when the round might close, the valuation, the exact product range, the sales channels, or whether Lumov has confirmed the talks. Until the company or investors announce the deal, these details remain open.
FAQ
Who is Lumov? A Bengaluru-based company founded in 2024 by Saumaric Dangwal and Ankit Gupta that designs and manufactures orthopaedic products and orthoses, according to Venture Intelligence.
How much is it reportedly raising? Rs 32 crore, with Peak XV Partners expected to lead.
Is the round confirmed? No. The report describes the company as being in talks.
What does it mean for CPOs? It signals growing investor interest in orthoses in India, and a need for clinicians to clarify where assessment and custom fitting add value.
Suggested hyperlinks / sources
- Venture Intelligence: Orthopaedic products maker Lumov in talks with Peak XV, others to raise Rs 32 Cr
- Lumov Health
- Bharat CPO: O&P Business