Rajeev Karwal & Milagrow: The Turnaround King Who Pioneered India's Robotics Revolution
The definitive story of the late Rajeev Karwal, the corporate titan who founded Milagrow Robots. Explore his journey, vision, and the making of India's #1 service robotics brand.
The Indian business landscape is filled with stories of success, but few are as compelling as that of the late Rajeev Karwal. Widely revered as a "turnaround specialist" who transformed the fortunes of corporate giants, Karwal took a remarkable leap of faith, leaving a stellar career behind to pioneer an industry from scratch in India. His journey was one of profound resilience, bold execution, and a deeply humane vision for the future of technology.
This dossier chronicles the life and work of Rajeev Karwal and his venture, Milagrow Robots, drawing upon an in-depth, candid conversation on the Founder Thesis podcast.
Check out the video of the conversation here or read on for insights
🎓 The Founder's Journey: From Corporate Titan to Robotics Pioneer
Rajeev Karwal’s path was defined by relentless drive and a unique ability to see opportunity where others saw obstacles. His foundation was laid at the Institute of Management Technology (IMT), Ghaziabad, but his most formative lessons came from life itself. In the podcast, he shared a pivotal story of a scooter accident that nearly derailed his MBA aspirations, a traumatic event that instilled in him a deep resolve and an appreciation for family support that would fuel his entire career.
The Corporate Titan: A Legacy of Turnarounds
Before Milagrow, Rajeev Karwal was a celebrated figure in the consumer durables industry. His reputation as a "turnaround king" was earned through a series of high-stakes leadership roles where he engineered phenomenal growth. His career path was a masterclass in strategic execution, taking him from his early days at Onida Electronics to senior management at the Kishinchand Chellaram Group in Spain, followed by successful turnarounds at Surya Roshini Limited, Philips India, and Electrolux India, where he achieved 49% sales growth as Managing Director. He also held a leadership role as President & CEO of the Consumer Durables vertical at Reliance Retail.
His most iconic stint was as the Vice President of Sales & Marketing at LG Corp India. He was instrumental in LG's disruptive market entry in 1997, famously going against the grain of the industry. At a time when competitors were locked in discount wars, Karwal positioned LG on product innovation and honest pricing. When negotiating for the top role at LG, he showcased his immense self-belief and commitment with a bold promise:
"What guarantee can I give you? I can only give you this guarantee that for the next one year, whatever salary you give me, I will return it."
He successfully convinced the Korean headquarters to develop India-specific products, laying the groundwork for LG to become a dominant market leader. He recounted his core belief about branding:
"You cannot confuse the customer or fool the customers all the time... Branding has to be done on its eternal principles."
The Entrepreneurial Spark 🚀
After an unparalleled corporate run, the entrepreneurial bug bit him. In 2007, he founded Milagrow Business and Knowledge Solutions. Initially, the firm acted as a "venture catalyst" for small and medium enterprises (SMEs), offering "Management Capital" and mentorship through programs like "Venture Doctors."
This phase provided invaluable ground-level insights into the operational gaps ripe for technological disruption. In 2012, this led to the definitive pivot: the launch of Milagrow HumanTech, India’s first home-grown service robotics brand. He sought an industry that would "grow for the next hundred years" and where no large brands yet dominated. Robotics was the perfect fit.
💡 The Founder's Philosophy
Vision: "Humane Tech" for a Better India 🤖
Rajeev Karwal's foray into robotics wasn't just a business move; it was driven by a profound personal philosophy he termed "humane tech." He questioned the status quo of manual, often demeaning, labor and saw technology as a great equalizer. His vision was captured in a simple yet powerful question:
"Why should one human being serve another human being for domestic chores or menial chores? Why should this not be replaced by a robot?"
He believed that by automating drudgery, technology could free human beings to pursue more creative, skilled, and fulfilling work. This deep-seated belief was the ethical backbone of Milagrow and its relentless focus on creating practical, accessible service robots for Indian homes and businesses.
Leadership: Execution is Everything
Described as a "rare leader who is an innovator, a shaper, yet an effective manager," Karwal's leadership style was a blend of corporate discipline and entrepreneurial agility. He was known for his unorthodox, forthright approach and his belief in complete ownership.
"Ownership is very, very important, you know, attribute for anybody who wants to do well in his professional life."
For him, the idea was only the beginning. He famously stated:
"Every idea is a billion dollar idea in India, but it is the execution that ultimately separates success from failure."
This pragmatism was forged through decades of experience. He faced immense challenges head-on, including the economic shocks of demonetization and GST, which led to a 70% drop in topline. His leadership during that crisis saw the company pivot from a purely B2C focus to include the B2B sector, a strategic move that ensured survival and future growth. He acknowledged the brutal difficulty of such challenges:
"Turnarounds are never easy. And turnarounds, you always pass through a valley of death."
📈 The Venture: A Deep Dive into Milagrow Robots
Milagrow set out to solve the problem of drudgery by making advanced domestic robots accessible and affordable. The company has since become a market leader and a testament to Indian innovation.
By the Numbers: Growth & Milestones
Market Share: As of January 2021, Milagrow claimed a dominant 60% market share in the Indian robotic cleaning market.
Pandemic Growth: The company registered a phenomenal 1,200% growth in the fiscal year 2020-21 as demand for home automation soared.
Revenue: Milagrow reported a revenue of ₹4.43 crore (approx. $552,000 USD) as of March 31, 2023.
Future Target: The company has set an ambitious goal to achieve ₹100 crore in revenue within the next three years.
Installation Base: Milagrow has successfully installed over 150,000 products, showcasing significant market penetration.
Funding: The company secured a venture round investment from Brand Capital in 2015 and plans to raise another round in the next 2-3 years to fuel its "Make in India" and international expansion plans.
Product & Technology Differentiators
Milagrow's success lies in its deep focus on India-specific innovation.
India-Specific Customization: Its robots are designed for the complexities of Indian homes, with algorithms tailored for local conditions and support for up to six vernacular languages.
Advanced Tech: The company leverages cutting-edge technologies like LiDAR for precise mapping, AI-powered navigation (RT2R 3.0), and proprietary software like the Milagrow BharatBot.
Superior Hardware: It incorporates heavy-duty 5800 mAh EV-grade batteries, offering longer runtimes and a longer operational lifespan than competitors.
Affordability: A key strategic focus is on making advanced tech affordable, having successfully reduced the cost of its LiDAR-based models by 40% over a few years.
Diverse Portfolio: The product range includes floor cleaning robots (the flagship iMap series), window cleaning robots, pool cleaning robots, and even humanoid robots like the RoboSlim for commercial use.
Carrying the Legacy Forward
Following the passing of its visionary founder in May 2021, Milagrow is now led by Amit Gupta, who is committed to carrying Rajeev Karwal's legacy forward. The company's focus remains on operational excellence, deepening its India-specific product strategy, and achieving its ambitious growth targets, including establishing a dedicated manufacturing hub in India. This commitment to the founding vision—of building an ethical, innovative, and proudly Indian brand—continues to be the driving force behind Milagrow's journey.
Listen now!
Other ways to listen:
Your Feedback matters
As always, I’d love to hear your thoughts! Whether it's about this episode or ideas you’ve been playing around with, shoot me an email at ad@thepodium.in. Your feedback keeps these conversations going, and I’m always up for chatting about your startup ideas too.
Until next time,
Your Host,
Akshay Datt