Rajeev Karwal, founder and chairman of Milagrow Robots, passed away due to COVID-19 on Wednesday, according to India Today. Karwal was well-known in the Indian electronics industry for his immensely successful stint as a professional. He was a part of the top management of leading electronics brands such as Onida, LG, Philips, Electrolux and Reliance Digital before founding Milagrow in 2007.
Set up in 2007, Milagrow was initially a management consultancy firm. The company has started making robots for residential and industrial use from 2012.
Milagrow robots gained significance during COVID-19 pandemic as hospitals had started using humanoid to help doctors. Last year, two its robots were deployed at the advanced COVID-19 ward of AIIMS Delhi to contain the spread of the pandemic amongst doctors and healthcare workers.
During an interview with Moneycontrol in November, 2020, Karwal told, “In the last quarter, our revenue grew by 723%, year-on-year. For the full year, we expect revenues to jump five times.”
The growth in demand for floor cleaning robots has been increased. The overall segment sold about 10,000 units the whole of last year, Karwal said November last year.
“In early August we already sold 50% of what we did in the last four months. We expect to sell 1 lakh units this fiscal with an average price of Rs 45-50 thousand,” Karwal told PTI in August last year.
The company claims to have 60% market share. The robotic floor cleaners identify dirt on their own, clean them and move back to their charging point on their own if their battery level goes down. “Now our robots can clean their own mops,” Karwal said. He said that growth in demand for robots will bring down the cost of high-end robots by up to 50 per cent in the next couple of years.
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