Consumer robotics startup Milagrow eyes Rs 100 crore revenue in next 3 years

New Delhi: Milagrow Humantech, a homegrown brand of consumer robotics is aiming to touch Rs 100 crore in revenue over the next three years which is aligned with its vision of driving an affordable robotics revolution tailored for Indian households and businesses, it said in a media release.

Currently, it is doing very well as it restarted the business. In 2020-21, the company had registered 1,200 per cent growth, the company shared.

Amit Gupta, vice president at Milagrow said, "Our focus is on developing innovative products that not only enhance convenience but also deliver exceptional value for money."

“By leveraging collaborative R&D with offshore companies, we are creating robots specifically designed for the Indian market, featuring capabilities like conversing in six vernacular languages," Gupta added.

The robotics and automation industry in India is experiencing a staggering 90 per cent year-on-year growth, with an increasing number of foreign players, mainly Chinese companies entering the market.

Milagrow is ramping up its production capacity and expanding its distributor network across the country to meet the rising demand. With an average selling price of Rs 35,000 for its robots, the firm is well-positioned to capitalize on the growing demand for automation solutions across Indian households and businesses, especially in the B2B segment, where the company witnesses high demand for its pool cleaning robots during the summer months.

Further, sharing about the current focus of the company, Gupta said, "Our focus on collaborative R&D has enabled us to develop products specifically designed for the Indian market, like the iMap 15, which runs on the Milagrow Bharat Bot 0.24 software with algorithms tailored for Indian households. We are currently assembling some of our products in India and have plans to establish our manufacturing facility to enhance our production capabilities."

Also, the company is currently hiring for diverse roles in sales, field operations, and on-ground teams.

Going ahead, it plans to raise funding in the next two to three years to fuel its growth trajectory.

Milagrow sells through various channels, including D2C, Amazon, Croma, and has a wide distribution and retail network across 60 major cities. It has more than 100 authorized service centres already operational across the country.