Lumov Raises $1.2 Million Seed Round from Incubate Fund Asia & Others to Redefine Orthopedic Recovery and Rehabilitation in India

08 December 2025, Bengaluru, India: Bengaluru-based Lumov, an innovator in orthopedic recovery and rehabilitation products space, has raised a Seed Round of INR 10 Crore/ $1.2 Mn led by Incubate Fund Asia, with participation from QRG Investments and Holdings (Havells Family Office), IIMA Ventures, SIDBI, and several other noted angel investors, including Ashish Gupta (Helion Advisors), Saket Narang (Steinberg India), Abhishek Goyal (Tracxn), Arjun Vaidya, Indian Silicon Valley, Mapaex Family Office and others also participated in the round. The newly raised capital will fuel Lumov’s growth, expansion, and deepen its product development pipeline.

Lumov designs and manufactures advanced orthopedic products and orthoses that support post-surgical recovery, rehabilitation, and lifestyle-driven pain management. Lumov’s comprehensive range of products is engineered for clinical effectiveness, patient comfort, and India-specific anatomy and weather conditions, ensuring better compliance and improved recovery outcomes. The company develops its product with eminent orthopedic specialists at hospital chains such as Manipal, Apollo, Sakra, and AIG.

The funding comes at a time when India is facing a quiet but fast-growing musculoskeletal (MSK) epidemic. With an ageing population, increasingly sedentary lifestyles, rising orthopedic surgeries, fragmented product options, and low awareness about early MSK care, the demand for high-quality, clinically superior orthopedic products is expanding rapidly. While the Indian medical devices market is moving toward USD 50 billion by 2030, the orthotics and rehabilitation segment remains deeply under-innovated, sitting between low-quality mass market products and expensive global imports. Lumov aims to bridge this large gap by building India-first orthopedic solutions grounded in clinical expertise and modern design.

The company will use the fresh capital to drive growth, deepen collaboration with top orthopedic surgeons across India, and accelerate the development of the next generation of products. The fund will also support geographic expansion into Delhi NCR, Hyderabad, and Mumbai, scaling its sales operations and strengthening its manufacturing capabilities for post-surgical and rehab-focused bracing products. Lumov currently has a core team of 15 members, which will grow significantly as part of this expansion effort.

Founded by Saumaric Dangwal and Ankit Gupta, IIT Kharagpur & Harvard Business School Alumni with deep investing experience in healthcare, pharma, and consumer, Lumov brings a uniquely strong understanding of the country’s medical ecosystem. Saumaric has previously worked with Bain Capital as a healthcare and consumer investor, while Ankit has been associated with Brookfield Private Equity and Steinberg Asset Management. Collectively, they have overseen over $1.5Billion in invested capital across healthcare and allied sectors, giving them strong insights into clinical needs and gaps in patient recovery pathways.

Commenting on the announcement, Co-Founders, Saumaric Dangwal and Ankit Gupta, shared, “India is in the midst of an orthopaedic health crisis. While advances in diagnostics and care delivery are improving outcomes, we are building the physical product layer, premium, high-quality orthotics, rehabilitation aids, and pain-management solutions designed to accelerate recovery and help people live pain-free, active lives.”

“The musculoskeletal (MSK) care category, particularly in post-surgical recovery, rehabilitation, and lifestyle-driven pain relief, is poised for significant innovation. Lumov’s surgeon-led approach, Saumaric and Ankit’s profound market understanding, and integration of modern design principles instill high confidence that they can emerge as a category-defining company in MSK care,” said Rajeev Ranka, Partner at Incubate Fund Asia.

On the funding, Ramesh Sharma, President of QRG Investments & Holdings, “What impressed us about Lumov is not just the product portfolio, but the long-term vision to build an integrated MSK products platform. Saumaric and Ankit bring clarity of thought, speed of execution, and strong clinical partnerships that position Lumov to build a category-creating company in musculoskeletal health.”

With strong clinical partnerships, India-focused product development, and a rapidly expanding market, Lumov aims to become a leading name in orthopedic recovery and rehabilitation, shaping the future of MSK care for millions of Indians.