Very recently, in fact just yesterday, a dear friend of mine, a brother from another mother, did it! He quit advertising, left, arguably one of the best advertising agencies in the country, stayed home without a salary, taught himself type design and launched a retail typeface.
The typeface is called Brahmos (Devanagari)
Designed by Rocky (Hitesh Malaviya)
This is ITF Brahmos in all its goodness:
(Brahmos Latin designed by Satya Rajpurohit)
And these are some of the type specimen pieces I designed for ITF Brahmos.