How Indore’s Akash Joshi & Ankur Pathak built IMAST
Discover how a group of friends from Indore transitioned from employees to successful entrepreneurs, navigating challenges and seizing opportunities.
In the bustling city of Indore, two corporate professionals, Akash Joshi and Ankur Pathak, made a decision that would change the course of their lives—and the tech industry in India. Leaving behind the comfort of stable jobs, they embarked on an entrepreneurial journey that led to the creation of IMAST in 2016.
What began as a bold leap into the unknown has now become a significant player in India's tech landscape, serving major clients and continuously pushing the boundaries of innovation.
Their story is not just about business success; it's about the power of vision, the courage to take risks, and the relentless pursuit of excellence. From their humble beginnings to becoming a trusted name in tech solutions, Akash and Ankur's journey offers valuable insights into what it takes to turn an idea into a thriving enterprise.
Founders' backgrounds: A synergy of skills
IMAST was the brainchild of Akash Joshi and Ankur Pathak, who first crossed paths while working at companies like Reliance, Kirloskar, and Shakti Pumps. Their professional experiences complemented each other—Akash's background in corporate sales and marketing communications, combined with Ankur's expertise in IT and supply chain management, laid a solid foundation for their entrepreneurial venture.
Launching IMAST: A calculated risk
In 2015, Akash and Ankur decided to leave their corporate careers to pursue their business venture. With their combined experience, they launched IMAST in 2016 with a focus on providing integrated cloud solutions and marketing services, particularly for the distribution sector.
Reflecting on this decision, Akash mentioned, “We felt the time was right to take the plunge into entrepreneurship. We believed in our ability to make a meaningful impact.”
Early stages: Building momentum
IMAST initially concentrated on the pump industry, gaining early success by working with companies like Varuna Pumps and Kirloskar Oil Engine Limited. These initial projects helped the company establish a reputation for delivering results, leading to word-of-mouth referrals that fueled their growth.
Embracing digital transformation
From the outset, IMAST aimed to be at the forefront of digital transformation in areas like channel sales and customer engagement. In 2017, they introduced products like IMAST Loyalty, Sales Force Automation (SFA), and Distribution Management Systems (DMS), which helped solidify their digital presence.
Despite the challenges posed by the COVID-19 pandemic in 2020, IMAST managed to retain all of its clients, demonstrating resilience in a difficult business environment.
Growth and milestones
In 2022, IMAST launched IMAST 360, a solution integrating sales, HR, and customer engagement, positioning the company among the top tech solution providers in India. The company’s growth has been supported by a team of over 150 professionals and a strong client retention rate.
To date, IMAST has worked with over 100 brands across various industries, managing a vast network of channel partners and daily transactions. Their growth, achieved without external funding, highlights the effectiveness of their business strategy.
Looking forward: Expanding horizons
IMAST is now looking to expand internationally, with plans to explore markets in the United States and UAE. “We’ve established a solid foundation in India, and we’re ready to explore global opportunities,” Akash shares.
The story of IMAST is one of steady progress, driven by the founder's vision and a commitment to innovation. As the company looks to new markets, it continues to build on the principles that have guided its success so far.
