Letter 1.1 - From Mayank Patel - Atomos Technologies - A Journey of Innovation and Growth

Introduction and Early Days

As the CEO and Founder of Atomos Technologies, I’m excited to share our story. We started as a small team inside Mirats Insights with a big goal: to make our software instead of using others’. This was important to us because we wanted to keep our data safe and make sure everything worked together smoothly. We worked hard to create many different programs and tools to help Mirats Group and other companies we work with. We wanted to make things easier for everyone and save a lot of time by automating tasks that used to take hours.

Our journey from just a few people to a bigger company has been about making these tasks simpler and faster. We focused on building our solutions for all sorts of jobs, aiming to make our work better and more efficient. This effort has helped Atomos Technologies grow and become a key player in providing custom software solutions. We’ve always tried to do more with what we have, making sure we make a real difference with our work.

Foundation in Mumbai

In 2021, Atomos Technologies started in Mumbai. We chose Mumbai because it’s full of life and has great people. Our first team had four members: Varsha, Kajal, Lokesh, and Ajay. They were new to making software but worked very hard and had a lot of talent. This small team was the beginning of something big for us.

They worked on our first big project called Moonknight Router. Even though they were starting, they did a great job. What they did with Moonknight Router still helps us with our work now. We learned a lot from this project and it’s still important to us.

Since our inception, our learning journey has been continuous, and we’re still evolving. By the end of 2022, we had achieved significant milestones that reinforced our belief in our capabilities, fueling our motivation to tackle more challenging and critical projects. Our team has consistently enhanced their engineering skills, focusing on creating solutions that are not only appropriate but also scalable and dependable.

Incorporation

The transition into 2023 was a reflective period, recognizing the tangible impact of our innovations in saving costs and operational hours. This realization led to the formal incorporation of Atomos IT Services Private Limited, under the stewardship of our compliance team led by Charmi. This strategic move was aimed at making Atomos more accountable and managed under a unified corporate structure.

Our compliance team led by Charmi, incorporated Atomos IT Services Private Limited on May 25th, 2023, and to enhance business management and align our operations, we moved our Atomos Technologies team from Mirats to Atomos IT Services officially.

Once, we are settled our business and compliance for our new venture. We took a step forward and announced in our Annual General Meet of Mirats Group in Q4 2023, that we are going to expand and offer IT services and technological solutions with our consultancy on the things which we can improve and even save millions by including automation and technology in the setup.

Our Aim - Building Good Products & Serve End Users

Our goal is to create products not just for our own company but for everyone. We want to make it easier for people to handle complicated tasks. While making these products, we also aim to help businesses of all sizes, from small to large, with our IT services. This includes custom software, mobile apps, starting new projects (MVPs), and DevOps, among others. We’ve learned a lot from the mistakes we’ve made in our projects. This has helped us understand how important technology is and how to use it well (you’ll see this attention to detail in everything we make).

Long Term Focus

As a private company, our main focus is on long-term goals, which are central to our values. We consistently seek opportunities that promise lasting benefits, applying this approach to every aspect of our work, including hiring employees and selecting suppliers. Sometimes, this means we might pass up on short-term advantages if we believe there’s a bigger, long-term gain for our company. Making decisions that favour our future ensures we’re building a solid foundation and heading in the right direction for sustained success.

Roles at Atomos

From the start, Saumil and I worked closely together to build a strong team in design, engineering and quality. We had help from Altaf and Vaibhav, who took care of managing our projects. Before them, Ajay, Lokesh, and Ayush helped us in similar ways. But, we realized we needed someone who could help guide all the different parts of our team. After the Annual General Meeting at Mirats Headquarters in October 2023, and after the announcement - Saumil and I started looking for a leader who can help me manage the business and align with our vision of providing IT services to our clients. We thankfully found Sushant, currently working as IT Sales Manager, helping the team to grow and wearing multiple caps to achieve our goals.

We hired Sushant as a more experienced complement to me to help me run the business. Sushant was the Direct Sales Manager at NewAge Product Inc. and have more than 12 years of experience in Sales and 3D Design, a very unusual and important combination for Atomos given our scientific and technical culture.

Sushant and I connect regularly to update each other on the business and to focus our collaborative thinking on the most important and immediate issues. Decisions are often made by one of us, with the other team being briefed later and I plan to keep the structure like this to ensure good growth of the organisation.

To conclude, Saumil is helping us with finding the best talent for various departments. Sushant is working on the team to improve the process and structure, and along with it making plans to grow the business of Atomos Technologies with me. We are also currently looking for core department leaders who can help us build a dedicated and talented team for our business.

Corporate Structure

As part of our strategic growth plan and in pursuit of unified operations, we are currently in the process of restructuring the shareholding pattern and company associations within our group. At present, the share distribution within Atomos IT Services Private Limited, also known as “Atomos Technologies,” is as follows: I, Mayank Patel, hold a significant stake of 50% of the shares, demonstrating my commitment and belief in our company’s potential. Usha Devi, a key figure in our organization and a director of our parent company, Mirats Group, holds 25% of the shares, further solidifying the synergy between our entities. The remaining 25% is held by Mirats United Private Limited, currently an associate company, which underscores the collaborative framework we operate in.

Looking ahead, our vision is to transition towards a more integrated structure, where Mirats Group, through Mirats United Private Limited, will increase its stake to 60% in Atomos Technologies. This shift is aimed at leveraging the strengths and resources of Mirats Group to fuel our growth and enhance our market position. In this future setup, I will retain a substantial 26.67% share, reflecting my ongoing involvement and leadership, while Usha Devi will hold 13.33% of the shares, continuing her influential role within our corporate family. This planned realignment is designed to streamline our operations, foster closer collaboration among our companies, and propel us towards achieving our long-term objectives.

Conclusion

To sum up our story, Atomos Technologies has grown a lot from a small team with a big dream. We started in Mumbai and have come a long way, making software that helps make difficult tasks easier for everyone. Our goal has always been to help not just our own company but also other businesses and people with our technology.

We’ve got a great team led by people like Saumil and Sushant, and we’re ready to take on new challenges. Our company, Atomos IT Services Private Limited, is part of a bigger group called Mirats Group, and together we’re working towards making a big impact in the tech world.

We’re excited about the future and all the new things we can do. We’re thankful for everyone who has supported us on this journey. We’re not just building a company; we’re working on making a difference in how technology helps people. Here’s to moving forward, finding new opportunities, and reaching even bigger goals with Atomos Technologies.

Let the journey begin, I am excited about :

• Getting more aspiring things done.
• Start serving our clients with our new offerings.
• Build a great core team that will help us build Atomos.
• Build ambitious projects and improve the transparency and oversight of what we are doing.
• Making Atomos a better place.

~ Mayank Patel, CEO & CTO, Mirats Group

27 January, 2024