Lumio, a Bengaluru-based home entertainment startup founded by former employees of Xiaomi and Flipkart, is looking to raise a Series A funding round after successfully securing $4 million in seed funding. Co-founder Raghu Reddy indicated that the company aims to expand its portfolio into the mid-premium and premium television segments, which are experiencing growth despite a stagnating overall TV market. The startup has raised approximately $4.55 million from investors including Stellaris Venture Partners, 3one4 Capital, and Sattva Ventures. In its first year, Lumio attracted over 20,000 customers, largely through sales on Amazon, and has partnered with Flipkart for further distribution. However, the company faces challenges from supply chain constraints, particularly with memory components, which have seen price increases of 100-200%. Reddy noted that while Lumio's business model is capital-intensive, it has the potential for significant scale if executed effectively.