Dreams come true only when we are determined enough to never take ‘no’ for an answer. Standing up to courage and loyalty to one’s dream is what fetches us results. Education just nourishes our mind, but dreams satisfy our souls and give us a sense of peace along with confidence.
While education takes the route of compulsion, dreams take the liberty to soar above the shackles of set milestones and weave a world of one’s own. Today, we are going to talk about such an entrepreneur who took the hard way out to prove his worth, and that nothing is impossible. He discarded his long-served job of 16 years to chase his dreams. Pranav Mokshamar, an engineering college dropout, who didn’t surrender to the conformity of education system, and went on to choose another stream for graduation.
Indore boy Pranav, grew up in an environment of working parents and was inspired from deep within to do something big in life that inspired others, too. So, he took a leap of faith and completed his graduation in commerce to learn business skills. After his graduation, he completed diploma in refrigeration and air-conditioning, which he wanted to do.
He was already employed when this idea occurred to him that he could build a cooler that was different from the coolers available in the market. So, in 2008, he quit his job and moved back to Indore, and started working on the product. It took him just one day to build the cooler because he had all the information, and experience of 16 years that he required to do the job.
Pranav’s genius brain did the task of bringing forth the product, but everyone was reluctant to see it. He got mocked constantly. His technology was quite unique in itself so Pranav decided to apply for its patent in 2009. The patent got accepted in 2010 and was published in 2014 on the site of Patent Authority of India.
In the meantime, Pranav focussed on getting fund for installation of new business. There was a Global Investor Summit, in Indore, in 2014, where Shivraj Chauhan, the chief minister of Madhya Pradesh was present. Pranav, along with his team, gave Shivraj a presentation on how his product, the compressive cooler worked. The CM was impressed and he sanctioned a loan of Rs 1 crore immediately.
The company was inaugurated in January 2016, under the joint venture of Pranav and his wife Dr Priyanka. The company was Pranav’s brainchild but, in order to generate fund he had to sell their house. Pranav discussed it with his wife and found her to be hesitant at first. However, when she came to know that Pranav was pondering over selling his patent of compressive cooler, she took a stride forward and encouraged Pranav to hold on to his patent, and sell the house instead.
In fact, she also took a plunge in the business and is 90 percent stakeholder of the company Vaayu Home Appliances India Pvt Ltd leaving 10 percent for Pranav.
“My wife is my support system and I want to grow this company together with her.”
Pranav’s product is a compressive cooler that is highly efficient at a low cost. It has a compressor that creates ice in the ice chamber. This ice chamber is installed in the water tank of cooler. There is an automated system that detects the temperature of water and when the water turns cold, it automatically turns itself off. However, there is a cooling pad attached to the cooler to circulate the water again on its own when the temperature rises.
This compressor is completely automated and works for three minutes before turning itself off, for two minutes, and this way power consumption is avoided and electricity is saved. It took Pranav seven long years to perfect the cycle.
This is the only product in the world that consumes lowest power and gives maximum cooling. When one ton AC is run, it consumes 1,000 watts, however, the compressive cooler of same capacity consumes only 100 watt without releasing any heat. This product is a major hit and is spread in 24 states with around 60 dealers.
With the corporate office in Indore, their product ranges from residential, neutral and commercial ranges. The company currently has 12 employees which is going global in coming years. The plan till 2020 has been chalked out and Pranav aspires to transform his start-up in an MNC in coming years. The company’s turnover in financial year 2017-2018 is Rs 2.25 crore already and it’s still adding up.
His message to the readers is “Think big, dream big and work hard and you will definitely get success. Aim for the moon, even if you fail you will land amongst the stars.”