 "Magicpin records 15-times order growth on ONDC network in 15 months")
Hyperlocal e-commerce firm magicpin on Tuesday said it has crossed the 1.5 lakh-mark for daily order of food and logistics services on the government-backed ONDC platform, registering a 15-times growth over 15 months.
magicpin joined the Open Network for Digital Commerce (ONDC) network in March last year with 22,000 restaurant partners, which the company has scaled to 70,000, the company said in a statement.
The company saw 100 daily orders in early May 2023, which increased to 10,000 in four weeks, the company said.
"In about 1.5 years, we have double-digit market share in major cities, with more than 10 per cent market share in key markets like Delhi or Bengaluru in terms of overall food delivery. We are thrilled with magicpin's success on ONDC, where we have reached 1.5 lakh daily orders for food delivery and logistics on the network," magicpin CEO and Co-Founder Anshoo Sharma said.
He said 90 per cent of food orders from prominent buyer apps such as Paytm, Tata Neu, and Ola are now fulfilled by magicpin.
Recently, the company announced an investment of Rs 100 crore to onboard 1 lakh new restaurants and cloud kitchens on ONDC.
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The company said the fund was used to offer incentives at the time of onboarding, such as zero commission, zero fees, major discounts, and free home delivery for customers by newly partnered restaurants.
According to magicpin, it has a network of over 2.75 lakh retailers across the country where its users can avail of discounts on their purchase.