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Shree Tripada Founder Mayank Dave
In the bustling city of Ahmedabad, where industries thrive and entrepreneurs dream big, a young man set out on a path that would redefine India’s cloud communications landscape.
This is the story of Mayank Dave, a first-generation entrepreneur who transformed a ₹20,000 investment into Shree Tripada—a CPaaS solutions company. Shree Tripada now sends over 200 million SMS every month and has clocked an impressive ₹7 crore in annual revenue during this financial year.
But success was far from immediate. The journey was fraught with financial struggles, market uncertainties, and regulatory challenges.
However, through sheer resilience, innovation, and an unwavering commitment to customer satisfaction, Mayank built a thriving tech startup in a fiercely competitive industry.
THE BIRTH OF SHREE TRIPADA:
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Born into a humble family in Ahmedabad, Mayank Dave grew up watching his father work as a truck mechanic. Entrepreneurship was always on his mind, but the road to success was unclear.
After completing a diploma in IT engineering from LDRP Institute of Technology and Research, Gandhinagar, Mayank was eager to build something of his own in the growing Indian startup ecosystem.
In 2011, at the young age of 18, he found his calling in the CPaaS (Communications Platform-as-a-Service) industry—a sector that was still in its infancy in India.
Businesses were increasingly looking for affordable ways to connect with customers, and SMS was emerging as the dominant mode of communication. However, there was a glaring gap in the market: India lacked reliable bulk SMS service providers.
Mayank saw an opportunity. He decided to build a tech company that would bridge the communication gap for businesses by providing high-quality bulk SMS services at competitive rates. And so, with just ₹20,000 as an initial investment, Shree Tripada was born in June 2011.
THE INITIAL STRUGGLES:
Starting a tech startup with minimal resources was not easy. The challenges were numerous and relentless.
Mayank operated from a 150-square-foot rented office in Ahmedabad, with only a couple of employees by his side.
One of the biggest hurdles was gaining clients' trust. At just 18, Mayank found it difficult to convince seasoned business professionals that his company could deliver reliable CPaaS services.
"Potential clients would hesitate to work with a teenager. Many of them thought I was too young to handle something as crucial as tech-enabled business communications," recalls Mayank Dave, the founder & CEO of Shree Tripada, during an exclusive interview with Startup Pedia.
To overcome this, he took a head-on approach—writing hundreds of cold emails daily, meeting potential clients in person, and offering personalised solutions at unbeatable prices. Slowly, Mayank’s business started picking up.
Another significant challenge was cash flow management. Coming from a modest background, Mayank had no external financial backing. Every rupee earned was reinvested into the business. Payment delays from some clients occasionally created cash flow challenges, impacting timely salary and rent disbursements.
“There were a few months when I couldn't pay my employees on time. But they believed in my vision and stood by me through thick and thin,” shares Mayank Dave with Startup Pedia.
SCALING UP AMIDST REGULATORY HURDLES:
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By 2014, Shree Tripada had gained momentum, transforming into a private limited company and expanding its services beyond bulk SMS.
It started offering voice calls, bulk email, chatbot solutions, WhatsApp Business, and API integration for businesses looking to automate their communication processes.
However, the Telecom Regulatory Authority of India (TRAI) threw a curveball in 2014 by restricting promotional SMS for users with DND (Do Not Disturb) activated on their phones. This hit Shree Tripada’s revenue hard, forcing Mayank to diversify his services to stay afloat.
Another blow came in 2017, when telecom operators significantly increased SMS rates. This meant that bulk SMS marketing became more expensive for businesses, leading to a decline in demand.
But the biggest challenge of all came in 2020, during the COVID-19 pandemic. As businesses shut down, marketing budgets were slashed, and demand for bulk SMS services plummeted.
To make matters worse, TRAI introduced the Distributed Ledger Technology (DLT) regulation, which made it mandatory for businesses to register on a blockchain-based platform before sending marketing SMS. Many small businesses, unable to comply, shifted to WhatsApp Business, further affecting Shree Tripada’s revenue.
To survive this crisis, Mayank had to act fast.
He took a loan of ₹8 lakh to sustain operations and doubled down on customer service, offering free support for DLT registration and expanding WhatsApp-based marketing solutions. This move helped retain clients and slowly recover lost business.
SHREE TRIPADA’S SERVICES IN DETAIL:
Despite the ups and downs, Shree Tripada has grown into a leading CPaaS service provider in India. The company now offers a full suite of communication solutions, including:
- Bulk SMS Service: flagship service for promotional, transactional, and OTP SMS
- WhatsApp Business API: for automated messaging
- IVR services: for customer support automation
- Bulk Email solutions: for corporate email marketing
- RCS Messaging: for interactive and media-rich communications
- AI-powered chatbots: for 24/7 customer interaction
With more than 200 million SMS sent monthly and over 40 lakh API notifications sent daily, Shree Tripada has firmly established itself as a dominant player in the Indian CPaaS ecosystem.
Despite diversifying its CPaaS solutions, bulk SMS service remains the company’s bread and butter, contributing to 90% of its revenue. The pricing is highly competitive, starting at ₹12,000 for 1 lakh SMS (₹0.12 per message), with rates dropping to ₹0.08 per SMS for larger packages.
Unlike many competitors, Shree Tripada offers round-the-clock customer support and even assists businesses with DLT registration.
“The biggest reason why 96% of our clients keep coming back is affordability and a dedicated 24/7 customer support system,” Mayank states with pride.
THE PRESENT AND THE FUTURE:
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In FY 2024-25, the company crossed ₹7 crore in revenue, a huge leap from its humble ₹1.50 lakh first-year earnings. In this journey, Shree Tripada has served over 35,000 clients, including giants like Inox, ISKCON, Recode, Euro7000, Shalby Hospitals, APGV Bank, Chhattisgarh Government, and OP Jindal University.
Unlike many startups that rely on external funding, Shree Tripada has remained entirely bootstrapped till now. However, Mayank is now open to raising funds, as per requirement, for further expansion.
Mayank’s next goal is to expand Shree Tripada’s presence in the Middle East and APAC regions while doubling the client base in India. Additionally, he plans to increase revenue from ₹7 crore to ₹10 crore by FY 2025-26 and strengthen the team by hiring more sales professionals.
With India's CPaaS market projected to reach USD 3.06 billion by 2030, the growth opportunities are immense.
"Our ultimate goal is to establish Shree Tripada as a global leader in the CPaaS sector and make India proud," Mayank shares with Startup Pedia.
From a budding startup in a tiny Ahmedabad office to a nationally recognised CPaaS platform, Mayank Dave’s journey is a testament to perseverance, adaptability, and the power of innovation.
At just 31 years old, Mayank has already spent 15 years building a business that is shaping India’s CPaaS landscape. His story is an inspiration for aspiring entrepreneurs who dream of making it big, no matter where they come from.
With a strong foundation, a loyal customer base, and an unwavering vision, Shree Tripada is well on its way to becoming a global name in CPaaS solutions.