IIT Bombay grad rejected ISRO job, built Rs 1,000 crore startup

Manoj Meena, an IIT Bombay graduate, turned down a job offer from the Indian Space Research Organisation (ISRO) after his final year to start his own company. He co-founded Atomberg Technologies in 2012 with fellow IIT Bombay alumnus Sibabrata Das. The company was incubated at IIT Bombay's Society for Innovation and Entrepreneurship (SINE) and spent its first four years taking on engineering projects while searching for a core product.

In 2015, the founders developed a brushless direct current (BLDC) motor for ceiling fans that used about 28 watts, compared to 75-80 watts for a standard fan, cutting power consumption by up to 65%. They launched the Gorilla fan that year and began selling to consumers in 2016. By FY19, the company had operating revenue of Rs 37 crore and produced around 1,000 fans a day.

Atomberg faced a near-collapse in 2019 when it had just one month of runway left. Salaries were delayed and funding talks stalled. The founders then reached out to a newly formed fund, which responded quickly and provided the capital needed to keep the company open. Atomberg later expanded into smart appliances with features like remote controls and Wi-Fi connectivity.