Millionaire Mondays - Abhinav Das, Orangewood Labs

It all began in late 2008, amidst Abhinav Das' GATE exam. In a pivotal moment of realization, he abandoned the exam midway, recognizing that pursuing a master's degree wasn't his true calling. Instead, he crafted a business plan on the spot, birthing the concept of 'Evomo - Evolving Mobility'. The objective behind Evomo was straightforward: to replace the ubiquitous jugaad vehicles prevalent in rural India with Rural Utility Vehicles (RUVs). These RUVs were envisioned to be cost-effective, modular, and specially designed for rough terrains. However, Abhinav Das encountered a significant obstacle – funding. He required approximately 2.3 crore rupees, equivalent to about 383,000 dollars at the time, to kickstart his vision. Despite seven years of dedicated efforts and the creation of an impressive prototype, Evomo failed to generate any revenue. Abhinav Das attempted to secure venture capital to obtain certifications and commence manufacturing, but his endeavors only yielded a fraction of the required funds – a mere 12 lakh rupees, or 18,000 dollars at the time. Facing limited options, Abhinav Das took a daring leap and applied for Y Combinator in 2015. Despite being accepted for an online interview, he fell short of securing a spot after the in-person interview in California. The setback was a crushing blow, leading Abhinav Das to shutter Evomo, depart from Ahmedabad, and return to his parents' home in Delhi. He grappled with a profound sense of purposelessness, battling bouts of depression characterized by prolonged sleep and difficulty in getting out of bed. Yet, amidst the darkness, Abhinav Das resolved to reclaim his passion for entrepreneurship. He embarked on a journey to resurrect his dreams, eventually founding Orangewood Labs alongside his co-founders, determined to make a lasting impact in the world of robotics. Abhinav Das and his fellow co-founders at Orangewood Labs are on a mission to revolutionize the robotics industry. Their focus? Building robotic arms that are not only affordable but also incredibly easy to program, thanks to their innovative AI-powered software named RoboGPT.