Mivi eyes Rs 1K cr revenue in FY26 with expansion plans, geographic scaling

Mivi, a Hyderabad-based consumer electronics brand, has set an ambitious Rs 1,000 crore revenue target for FY26, driven by a strategic blueprint including product category expansion, broader geographic reach, a new manufacturing facility, and enhanced marketing strategies.

Mivi, which employs over 1,500 people, clocked over Rs 300 crore in revenue in FY25.

In an interview to PTI, Mivi co-founders Midhula Devabhaktuni and Viswanadh Kandula outlined Mivi's multi-pronged roadmap for growth, with plans to venture into new categories such as IoT devices, smart wearables, smart CCTVs and speakers alongside bolstering its existing audio and mobile accessory offerings. 

"FY26 is going to be an amazing year for the brand. We are targeting a revenue of Rs 1,000 crore, which will be a huge jump. We are targeting a good amount of that revenue to come from the existing categories, but we are also going to expand into other categories.

"Mivi AI is a platform that we have developed. The category that we are foraying into first is earphones, with the launch of the earbuds, but with Mivi AI, we will also be developing IoT devices, smart variables, speakers, security/home-monitoring cameras," Devabhaktuni said.

The company recently unveiled an AI-powered platform--Mivi AI-- integrated into its earbuds, with plans to incorporate more products into the portfolio.

Developed over 18 months with an investment of Rs 100 crore, the platform includes unique features such as a custom wake word and advanced voice interaction capabilities tailored for Indian accents.

The founders anticipate this AI platform to triple the company's revenue next year and serve as a foundation for future product innovations across multiple categories.

Mivi clocked in a revenue of over Rs 300 crore in FY25, Devabhaktuni said, noting that the bootstrapped company has been profitable from day one of its operations.

The company also plans to go public within the next five years, she added.

To support these ambitions, Mivi is investing in a new manufacturing facility in Hyderabad, which is slated to begin operations by June-end this year. This 2 lakh square feet facility will focus on component production and also cater to partnerships from global brands.

Geographic expansion is another pillar of Mivi's growth strategy. Kandula shared that the homegrown firm is now also tapping into international markets, starting with the US, the Middle East, and then Europe.

The goal is to provide completely different use cases to the consumer. To offer an all-in-one product so that the consumer does not have to go looking for different features in different brands, Devabhaktuni further said.

While Mivi faces stiff competition from established Indian players such as Boat and Noise, the company believes its focus on innovation and manufacturing excellence will help it carve out a unique position in the market, marking Mivi's commitment to R&D and long-term sustainability over short-term gains.

Marketing will also play a key role in driving Mivi's growth trajectory.

The company is significantly ramping up its marketing efforts to build brand awareness and capture a larger share of the domestic market. This includes leveraging both online and offline channels to reach diverse consumer segments.