MagicPin

Hyperlocal delivery startup says performance in September proves growing market share in major cities

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

Hyperlocal e-commerce firm magicpin Co-Founder and former chief operating officer Brij Bhushan has joined Prime Venture Partners as a full-time partner, the early-stage venture capital firm said on Friday. In this role, Bhushan will be a key member of the Investment team and will contribute to all aspects of the firm's investment, portfolio management and fundraising, Prime VP said in a statement. "Brij Bhushan brings a unique combination of strategic thinking, execution excellence, and a long-term mindset essential for company building. We believe he is a perfect addition to our leadership team," Prime Venture Partners (Prime VP), Managing Partner, Amit Somani said. Bhushan co-founded magicpin where he was instrumental in magicpin's growth, raising over USD 100 million from investors including Lightspeed, Zomato and Waterbridge. An alumnus of IIM Bangalore, Bhushan previously worked in venture capital as Vice President at Nexus Venture Partners before co-founding magicpin. He has

Hyperlocal e-commerce firm magicpin plans to invest Rs 100 crore over the next three months to onboard over 1 lakh new restaurants and cloud kitchens on the government-backed e-commerce platform ONDC, the company said on Sunday. magicpin will invest funds towards offering onboarding incentives like zero commission, zero onboarding fees, and free home delivery, among others, for customers by newly partnered restaurants. "Our goal is to provide a risk-free entry to promote the participation of food merchants and restaurants in the digital economy by eliminating entry barriers such as high commissions and onboarding fees, and committing Rs 100 crore towards this initiative," magicpin CXO - Enterprise Brands Naman Mawandia said. magicpin is one of the leading seller apps on ONDC. Its food tech vertical competes with food delivery apps like Swiggy and Zomato. "We aim to not only accelerate the adoption of online food delivery among diverse restaurant partners, thereby benefiting the ...

The platform is currently witnessing an average of 5,000 orders per day

Hyperlocal startup magicpin on Thursday said that food delivery orders jumped by more than twofold to 10 lakh during the cricket World Cup matches on government-backed Open Network for Digital Commerce (ONDC) network compared to the monthly average. Magicpin said that it delivered 35,000 food orders during the India versus Pakistan match on October 14. The orders peaked at 50,000 on a single day during the India versus Australia match.. "Magicpin has crossed 10 lakh food delivery orders for the entire duration of the World Cup between October 5 and November 19. The number of orders soared beyond expectations as ONDC's demand grew on magicpin's own buyer app and through other large buyer apps like Paytm, Phonepe's Pincode and Ola, the company said in a statement. The company had earlier announced to offer discounts worth Rs 50-100 crore at the beginning of the World Cup to cricket fans on food delivery as well as other categories such as dining out, fashion and grocery, making this .

Hyperlocal e-commerce firm magicpin on Saturday said it will invest up to Rs 100 crore in various promotional offers, including discounts on food orders, for the customers on the ONDC platform during the ongoing World Cup cricket tournament. The company will start its campaign 'Super Saver Match Days' from October 8 with the India versus Australia World Cup match on government-backed Open Network for Digital Commerce (ONDC). "We are pulling out all the stops for World Cup 2023 and are truly excited about the 'Super Saver Match Days' campaign. We plan to invest worth Rs 50 crore in various offers, including discounts to cricket fans on food delivery. We will scale it up to Rs 100 crore depending on the demand to make this event a feast for the fans," magicpin CEO and Co-founder Anshoo Sharma said. The e-commerce firm will offer up to Rs 175 discount for orders Rs 200 and above with free delivery. The company partners with retail shops and restaurants to make their products and servi

Hyperlocal e-commerce firm magicpin has partnered with government-backed NCCF to sell groceries, including onions and pulses, through the Open Network for Digital Commerce at low price, the company said on Friday. The partnership follows a collaboration of magicpin with National Cooperative Consumers Federation of India (NCCF) for selling tomato at Rs 70 per kilogramme when its prices were above Rs 100 a kg in the market. "We are thrilled to continue our partnership with NCCF and leverage ONDC to serve the community by making essential commodities easily accessible," magicpin said, adding, "we're committed to ONDC's mission to democratise the e-commerce system." Under the new arrangement, magicpin has started sale of Chana Dal at Rs 120 per kg and onions at Rs 50 per 2 kg, catering to more than 100 pin code areas in the National Capital Region (NCR). The service is initially available for Gurugram and Delhi residents. "This sale will be further extended to over 10 cities in a phas

Hyperlocal e-commerce firm Magicpin on Thursday said it will provide tomato for Rs 50 per kilogram at select online apps like Paytm and Pincode available at ONDC network in collaboration with National Cooperative Consumers Federation of India. Magicpin said that till date, it has facilitated the delivery of approximately 20,000 orders for 40,000 kilograms (kg) of tomatoes across more than 90 pin codes in and around Delhi-NCR in just 4 weeks at Rs 70 per kilogram (Kg), and henceforth, tomato will be shipped at a lower price of Rs 50 per kg. "The latest reduction to Rs 50 per kg will further benefit the consumers, where essential commodities are facing price fluctuations. We are humbled to join hands with NCCF and ONDC's initiative, and committed to contributing towards its success," Magicpin CEO and co-founder Anshoo Sharma said in a statement. Magicpin is offering a maximum purchase limit of 2 kilograms of tomato at Rs 100 per user per week with no delivery fees. National Cooperati

The surge in traffic resulted after the firm announced its 'tomatoes @ Rs70' initiative

The surge in traffic resulted after the firm announced its 'tomatoes @ Rs70' initiative

Hyperlocal e-commerce startup magicpin in a pact with NCCF has started selling tomatoes for Rs 70 per kilogram through select online platforms registered on the government-backed ONDC, the company said on Friday. Consumers can order tomatoes through magicpin app, Paytm, PhonePe's Pincode, Mystore in Delhi-NCR and select few cities under the arrangement, it said in a statement. "We have witnessed an overwhelming response, delivering 1,000 orders across over 90 pincodes in Delhi-NCR in just 2 days. NCCF and ONDC's initiative aims to stand with the consumers during challenging times," magicpin CEO and Co-Founder Anshoo Sharma said. To cater to the needs of a larger consumer base, magicpin is offering a maximum purchase limit of 2 kilogram of tomatoes at Rs 140 per user per week and those will be delivered to the doorstep of consumers. "On behalf of the central government, cooperatives NCCF and NAFED are already selling tomatoes at Rs 70 per kg to retail consumers through mobile vans i

Hyperlocal e-commerce firm magicpin has recorded 50 per cent month-on-month growth on the government-supported ONDC network as it crossed 30,000 daily order mark on the platform, the company said on Friday. magicpin joined Open Network for Digital Commerce about nine weeks ago in March end. "magicpin within the first four weeks of joining ONDC had scaled from 100 to 10,000 orders. By the fifth week, which was early last month we saw a massive leap to 20,000 daily orders, and now just another 4 weeks on and we have breached the 30,000 orders a day milestone on the network, all that in just 9 weeks of joining the network," magicpin CEO and co-founder Anshoo Sharma said in a statement. Lightspeed Venture-backed e-commerce firm received orders from its own buyer app and through buyer apps of multiple platforms like Paytm and PhonePe's Pincode. magicpin is also building a Software-as-a-Service (SaaS) platform for the ONDC initiative. "With this SaaS platform, magicpin aims to offer its

Hyperlocal e-commerce firm magicpin plans to have 20,000 fashion stores on its platform by December this year, a senior company official said. The company claims to have added over 150 fashion brands and 10,000 fashion stores in the last 12 months. Fashion as a category currently contributes 25 per cent to the company's total business, magicpin CEO and co-founder Anshoo Sharma told PTI "Going further, we will double down our presence and tie up with 10,000 more fashion stores by the end of this calendar year and bring our grand total to 20,000 stores by end of the year, as customers' seek value for money fashion options from popular international and national brands," he said. According to Statista, India's fashion market size was estimated at USD 97.8 billion in 2020 and is projected to reach USD 180 billion by 2030, growing at a CAGR of 8.5 per cent. The company has onboarded brands like Puma, Titan World, Wildcraft, United Colors of Benetton, Levi's, Lifestyle, Pantaloons, Max

Gurgaon-based company aims to add another 10,000 stores by the end of 2023

Hyperlocal startup magicpin on Friday said has recorded 200-fold growth in daily orders to 20,000 per day within the first five weeks of joining the government-supported Open Network for Digital Commerce (ONDC). Magicpin said it has reached 20,000 per orders day on the ONDC platform in the week ending May 7. "Within the first four weeks of joining ONDC, magicpin scaled from 100 to 10,000 orders a day. In the fifth week, we saw a massive leap to 20,000 daily orders. This represents a 200-fold growth in ONDC's daily orders through magicpin. "We are thrilled to take the network to another level by enabling customers to shop at their favourite local businesses or other retailers on ONDC," its CEO and co-founder Anshoo Sharma said in a statement. The number of orders soared beyond expectations as magicpin doubled its daily orders via its own buyer app and through buyer apps of multiple platforms like Paytm, Phonepe's Pincode and Meesho. "This milestone reflects our collaboration with

ONDC is not an app but a facilitative platform designed to "revolutionise" digital commerce

Plans to add 5,000 more restaurants to its network in three months; Besides tech integration on ONDC, the firm will also be fulfilling all backend logistics related to ordering and delivery

The new appointments are part of building the magicpin organisation as it prepares for its next phase of growth, and span product, marketing, technology and operations

Launched in 2015, MagicPin was valued at an enterprise value of $100 million last year