#Fail: Lumos
2014–2015 Lumos
Gujarat — India
Founders — Yash Kotak, Tarkeshwar Singh, and Pritesh Sankhe
No funding data found
The vision of Lumos was to make super-smart internet connected switches that learn from user behaviour and personalize electronic appliances in a home to its owner.
Main Reasons for Failure
-Experience: The founders were not experts or target users of the product they were building
-Market Ready Hardware: The founders underestimated the work, time and funding to create a market ready product. They also overestimated the demand and utility of Lumos.
-Market: They did not understand the market and competition well enough. We also did not figure out the persona of our customer, and whether the client was looking for the value that we were providing.
-Value: The incremental value that Lumos provided did not justify the costs for the customers.
-Focus: They were trying to do everything for everybody They were making switches that could automate your lights, fans, ACs and water heaters. We would have tried to automate your TV, Fridge, oven, and Car as well had it been feasible to do so.
Nowadays
Yash Kotak is a product manager at Myntra, a company that uses deep learning and computer vision on huge data sets to make/buy fashion that people will love and pays for.
Tarkeshwar Singh was a co-founder at FundaMine, then went on to be a Product Lead at Hash Learn and now he is a Product Manager at FreeCharge
Pritesh Sankhe was a Android Team Lead at Toppr and now he is a Software Engineer at Facebook.
Sources: YourStory
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