Tilak Mehta Net Worth 2024: How India’s Youngest Entrepreneur Built a Rs 100 Crore Company - Biographico (2024)

Tilak Mehta is a young prodigy who started his entrepreneurial journey at 13. He is the founder and CEO of Paper n Parcels, a company that provides same-day delivery services within Mumbai city. As of 2024, Tilak Mehta net worth is estimated at around Rs 120 crore, making him one of the richest and most successful teenagers in India. In this article, we will explore how Tilak Mehta built his company from scratch, what challenges he faced, what achievements he accomplished, and what his plans are.

Contents

Early Life and Education

Tilak Mehta Net Worth 2024: How India’s Youngest Entrepreneur Built a Rs 100 Crore Company - Biographico (1)

Tilak Mehta was born in 2005 in Mumbai, India. He is the son of Vishal Mehta, a banker, and Poonam Mehta, a homemaker. He has a younger sister, Tanvi Mehta. Tilak was always interested in business and technology from a young age. He used to read books and magazines about entrepreneurship and innovation. He also loved to play video games and watch sci-fi movies.

Tilak studied at Garodia International School in Mumbai, where he excelled in academics and extracurricular activities. He was a bright and curious student who always asked questions and participated in class discussions. He was also a leader and a team player who took part in various clubs and events. He was passionate about learning new things and solving problems.

The Genesis of Paper n Parcels

The idea of Paper n Parcels came to Tilak when he was 13 years old. He had gone to his uncle’s place for a vacation and had left some of his books there. He needed those books for his exams the next day, but he could not find any courier service to deliver them on the same day. He realized that there was a gap in the market for a fast and reliable delivery service for small parcels and documents within the city.

He decided to create a platform that would connect customers with local delivery agents who could pick up and drop off parcels within a few hours. He was inspired by the Mumbai Dabbawalas, who are famous for their efficient and error-free delivery of lunch boxes across the city. He also thought of partnering with them and using their network and expertise to deliver parcels.

He discussed his idea with his father, who supported him and helped him with the initial capital and guidance. He also hired a team of developers to create a mobile app for his platform. He named his company Paper n Parcels, as it reflected his core service of delivering papers and parcels.

Establishing Paper n Parcels

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Tilak launched Paper n Parcels in 2018, after conducting a beta test for four months. He approached the Mumbai Dabbawala Association and convinced them to join his platform as delivery partners. He offered them an additional source of income and a chance to be part of a tech-enabled venture. He also trained them on how to use the app and handle the parcels.

Paper n Parcels operates on a simple and user-friendly model. Customers can book a delivery request on the app by entering the pick-up and drop-off locations, timings, and contact details. The app then assigns the request to the nearest available delivery agent, who accepts the request and completes the delivery. The customers can track their parcels in real-time and pay online or offline.

Paper n Parcels handles parcels with up to 3 kg weight and charges from Rs 40 to Rs 180 per parcel, depending on the distance and urgency. The company has its central hub at Dadar in Central Mumbai, where it sorts and distributes the parcels. The company also offers shipping and logistics services to various businesses, such as e-commerce, retail, education, healthcare, and banking.

Growth and Success of Paper n Parcels

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Paper n Parcels has grown rapidly since its inception. The company has over 200 employees and more than 300 Dabbawala partners. It delivers over 1,200 parcels every day across Mumbai city. It has also expanded its service area to cover Thane, Navi Mumbai, and Pune. It has over 50,000 registered customers and more than 500 business clients.

Paper n Parcels has achieved a remarkable turnover of over Rs 100 crore per year. It has also raised funding from various investors, such as Mahindra Logistics, Reliance Industries, and Sequoia Capital. It has also won several awards and recognition, such as the Global Child Prodigy Award, the Startup India Award, and the Forbes 30 Under 30 Asia list.

Paper n Parcels has also made a positive social impact by empowering the Dabbawalas and creating employment opportunities for many people. It has also reduced the carbon footprint and traffic congestion by using eco-friendly modes of transport, such as bicycles, trains, and electric vehicles.

Challenges and Opportunities

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Paper n Parcels has faced many challenges in its journey. Some of the major challenges are:

  • Competition: Paper n Parcels faces competition from other delivery platforms, such as Dunzo, Swiggy, and Zomato, which offer similar or better services at lower prices. Paper n Parcels has to constantly innovate and differentiate itself from its competitors by providing superior quality and customer satisfaction.
  • Regulation: Paper n Parcels has to comply with various rules and regulations related to delivery, taxation, and safety. It has to obtain licenses and permissions from various authorities and agencies. It also has to deal with the risk of theft, damage, and loss of parcels.
  • Scalability: Paper n Parcels has to scale up its operations and infrastructure to meet the growing demand and expectations of its customers and clients. It has to invest in technology, equipment, and manpower to increase its efficiency and productivity. It also has to expand its service area and network to cover more cities and regions.

Paper n Parcels has also seized many opportunities in its journey. Some of the major opportunities are:

  • Demand: Paper n Parcels have tapped into the huge and growing demand for same-day delivery services in India, especially in urban areas. The company has catered to the needs and preferences of various segments of customers, such as students, professionals, businesses, and households. The company has also benefited from the rise of e-commerce and online shopping, which has increased the need for fast and reliable delivery services.
  • Innovation: Paper n Parcels has leveraged the power of technology and innovation to create a unique and efficient delivery platform. The company has used mobile apps, GPS, AI, and IoT to optimize its operations and enhance its customer experience. The company has also collaborated with the Mumbai Dabbawalas, who are known for their traditional and time-tested delivery system. The company has combined the best of both worlds to create a hybrid and smart delivery solution.
  • Impact: Paper n Parcels has created a positive impact on society and the environment by providing a valuable and convenient service to its customers and clients. The company has also empowered the Dabbawalas and created employment opportunities for many people. The company has also reduced its carbon footprint and traffic congestion by using eco-friendly modes of transport, such as bicycles, trains, and electric vehicles.

Tilak Mehta’s Recognition and Accolades

Tilak Mehta has received much recognition and accolades for his entrepreneurial success. Some of the major ones are:

  • Global Child Prodigy Award: Tilak Mehta received the Global Child Prodigy Award in January 2020 for his fantastic entrepreneurship skills.He was also among the Top 100 Child Prodigies of the world.
  • Startup India Award: Tilak Mehta won the Startup India Award in July 2020 for his outstanding contribution to the startup ecosystem in India.He was awarded by Prime Minister Narendra Modi in a virtual ceremony.
  • Forbes 30 Under 30 Asia: Tilak Mehta was featured in the Forbes 30 Under 30 Asia list in 2021 for his remarkable achievement in the retail and e-commerce category.He was among the youngest and most influential entrepreneurs in Asia.
  • TEDx Speaker: Tilak Mehta was invited to speak at the TEDx Gateway event in Mumbai in 2019.He shared his inspiring story and vision with a global audience of innovators and leaders.
  • Media Coverage: Tilak Mehta has been covered by various media outlets, such as The Times of India, DNA, The Economic Times, CNBC, and BBC. He has also been interviewed by various celebrities, such as Amitabh Bachchan, Anand Mahindra, and Ratan Tata.

Future Plans and Goals

Tilak Mehta Net Worth 2024: How India’s Youngest Entrepreneur Built a Rs 100 Crore Company - Biographico (5)

Tilak Mehta has many future plans and goals for his business and personal growth. Some of the major ones are:

  • Business Expansion: Tilak Mehta plans to expand his business to other cities and states in India, such as Delhi, Bangalore, Hyderabad, and Chennai. He also plans to enter the international market and offer his services in countries such as the UAE, Singapore, and the UK.
  • Product Diversification: Tilak Mehta plans to diversify his product portfolio and offer more services to his customers and clients. He plans to introduce new features and categories, such as food delivery, grocery delivery, and medicine delivery. He also plans to launch a subscription-based model and a loyalty program for his customers and clients.
  • Social Responsibility: Tilak Mehta plans to increase his social responsibility and contribute to various causes and initiatives. He plans to support the education and welfare of underprivileged children and women. He also plans to promote environmental sustainability and green practices in his business and society.
  • Personal Development: Tilak Mehta plans to pursue his personal development and achieve his academic and professional goals. He plans to complete his schooling and enroll in a reputed college or university. He plans to study business administration, computer science, or engineering. He also plans to learn new skills and languages, such as coding, design, and Mandarin.

Conclusion

Tilak Mehta is a young and inspiring entrepreneur who has built a successful and impactful company, Paper n Parcels, at the age of 13. He has overcome many challenges and seized many opportunities in his journey. He has also received many recognition and accolades for his achievements. He has a net worth of Rs 120 crore in 2024, making him one of the richest and most successful teenagers in India.

Tilak Mehta has many future plans and goals for his business and personal growth. He plans to expand his business to other cities and countries, diversify his product portfolio, increase his social responsibility, pursue his education and career, and enjoy his work and life.

Tilak Mehta is a role model and an inspiration for many young and aspiring entrepreneurs who want to follow their dreams and passions. He has shown that age is no barrier to success and innovation. He has also shown that with hard work, dedication, and vision, anything is possible.

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Tilak Mehta Net Worth 2024: How India’s Youngest Entrepreneur Built a Rs 100 Crore Company - Biographico (2024)

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