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To make matters worse, there seemed to be a central misalignment between the cofounders and one of the board members about how to approach the issue.įinally, Perkash had also experienced a fair amount of human resources problems over the years. The challenges related to financing the company would knock on Perkash’s door once again in mid-2014, when the company had to decide between raising venture debt or settling for a smaller round of equity financing. It was a hard decision to face so early in their trajectory, but Perkash knew she had to make a choice. That was when Perkash was approached by a large Asian manufacturer who would be willing to invest if the company implemented a significant change in its strategy, from focusing on a single product to adopting a platform approach to its product line. Worn like a belt and delivers real-time posture feedback, and captures an activity journal for user.
Use Slintel to connect with top decision-makers at Lumo Bodytech. Additionally, the equity for the new business had already been split among the four cofounders, which could further complicate any exit negotiations.Īround a year later, Lumo Bodytech had successfully launched but the wearables fever was dying down and the financial needs of the young start-up became more pressing by the day. Find useful insights on Lumo Bodytech’s company details, tech stack, news alerts, competitors and more. NeoLumo offers groundbreaking advances in facial treatments: NeoLumo Triple action Integrated Systems pairing photon LED light waves and vibration technology with synergistically matching creams targeting specific special zones NeoLumo Dynamic Anti-Aging Tech Therapy combining the curative powers of LED light waves with additional proven effective technologies.
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He was an accomplished software engineer who had become a friend in just a few months of work. As of 2018, Lumo Bodytech was still alive and thriving, but the journey had not been free of obstacles and difficult decisions for the CEO.Įven before the conclusion of the incubation phase, one of the cofounders had expressed his dissatisfaction with the direction of the ideation process and threatened to quit if nothing changed.
The result was a start-up focused on improving posture and helping solve the common problem of back pain. At the time, she had barely met her cofounders and the team was expected to launch a business after six months of design thinking and prototyping efforts. Monisha Perkash cofounded Lumo Bodytech during an incubation program organized by Innovation Endeavors – the venture capital firm started by Eric Schmidt – in 2011.