Milagrow Projects Threefold Revenue Increase in Three Years with ₹80 Crore Investment Plan

Amidst the evolving landscape of robotics in India, Milagrow, a homegrown robotics company, is setting ambitious targets for its future. Following the loss of its founder, Rajeev Karwal, to COVID-19 in May 2021, the company has reinvigorated its business strategy under the leadership of Amit Gupta. With a staggering growth rate of 1,200 per cent in the fiscal year 2020-21, Milagrow is now eyeing a revenue milestone of Rs 100 crore within the next three years, according to Gupta.

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Gupta, who continues to serve as the vice president—a position he has held since joining Milagrow—outlined the company's broad product strategy. Milagrow's portfolio includes a variety of cleaning robots designed for floors, pools, and windows. This diversification is part of the company's broader aim to make significant inroads into the domestic robotics market, which remains largely untapped.

Despite assembling some products domestically, Milagrow has maintained a dedicated manufacturing presence in China. However, plans are underway to establish a manufacturing facility in India, with Uttar Pradesh and Uttarakhand being considered as potential locations. This move is anticipated to occur within the next one to two years as the company scales its operations.

The Indian robotics market is currently in its infancy, dominated predominantly by Chinese firms. Milagrow stands out as a notable Indian contender amidst foreign competition. Gupta expressed optimism about the sector's growth trajectory, drawing parallels with the explosive expansion witnessed in the mobile phone industry.

One of Milagrow's innovative offerings is the iMap 15 robot, which features algorithms tailored for Indian consumers, including support for six vernacular languages. The company is also pioneering in battery technology, developing EV grade batteries that promise 25 per cent greater longevity and 30 per cent additional run time compared to traditional batteries. This development marks a significant milestone as it introduces a heavy-duty 5800 mAh EV grade battery into floor robots, ensuring an extended runtime of up to six hours.

Milagrow's product range is priced between Rs 12,000 and Rs 1.2 lakh per unit. In an effort to make robotics more accessible to Indian consumers, Gupta highlighted ongoing efforts to reduce costs. Notably, the company has achieved a 40 per cent reduction in the cost of LiDAR sensor models over one to two years. LiDAR sensors are crucial for enabling robots to autonomously map their surroundings for effective operation.

This strategic focus on cost rationalisation and product innovation underscores Milagrow's commitment to not only competing in a market dominated by international players but also to establishing a strong foothold as a leader in India's nascent robotics industry.