Electronics brand Mivi raises fresh funding from N+1 Capital

The undisclosed amount is expected to strengthen the company’s in-house capabilities and help expand its presence across new verticals

e4m by exchange4media Staff
Updated: Jan 20, 2022 2:25 PM  | 2 min read
Mivi

Consumer electronics brand Mivi has raised an undisclosed amount in a debt funding round from N+1 Capital, as per media reports. The company has been associated with its first funding partner, N+1 Capital. According to reports, the fresh capital will strengthen the company’s in-house capabilities and will help to expand its presence across new verticals. 

The company, headquartered in Hyderabad, specializes in the audio gadgets category. Its products range from True Wireless Earphones (TWS) to speakers to meet the audio needs of today’s tech-savvy, music-loving population in India. The brand strives to elevate its consumer electronics industry to the next level through its high-quality ‘Made in India’ gadgets at affordable prices.

Mivi opened its own manufacturing unit in India in 2020 in a bid to decrease the country’s dependence on China in this segment. Mivi is manufacturing all of its audio products in India and is the only brand in this segment that is manufacturing domestically.

Midhula Devabhaktuni, Co-founder, Mivi said, “There is currently a dearth in the country’s consumer electronics market when it comes to quality audio equipment. Mivi was founded to bridge this gap and take the Indian audio gadgets segment to compete with global players. The capital infusion by N+1 capital will set us up on an accelerated growth trajectory, banking on which we will expand our product portfolio across several new and in-demand categories. On the back of our high-quality, made-in-India products, we look forward to becoming the most preferred electronics brand for Indians.”

Ashish Singla, Managing Partner, N+1 Capital, said, “We are excited to support Mivi in its journey to build a homegrown consumer electronics brand. The stellar founding team coupled with their unique ability of inhouse product design manufacturing allows them to offer products tailored to Indian consumers. We look forward to being Mivi’s growth capital partners in their journey".

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