Magicpin's Meteoric Rise on ONDC Platform

Hyperlocal e-commerce firm magicpin has significantly grown its daily orders on the ONDC platform to over 1.5 lakh, marking a 15-fold increase in just 15 months. The company achieved a double-digit market share in major cities and has invested Rs 100 crore to further expand its network.

Hyperlocal e-commerce firm magicpin announced on Tuesday that it surpassed the daily mark of 1.5 lakh orders for food and logistics services via the government-supported ONDC platform. This indicates a 15-fold growth over a span of 15 months.

Having joined the Open Network for Digital Commerce (ONDC) in March of last year, magicpin expanded its partnership from 22,000 to 70,000 restaurants. The firm reported in a statement that what began with 100 daily orders in May 2023 had surged to 10,000 in just four weeks, contributing to their substantial market presence.

CEO and Co-Founder of magicpin, Anshoo Sharma, noted that 90% of food orders from major buyer apps like Paytm, Tata Neu, and Ola are now fulfilled by magicpin. The company made headlines by investing Rs 100 crore to enlist 1 lakh new restaurants and cloud kitchens on the ONDC platform. This fund facilitated initiatives like zero commissions and free home delivery during the onboarding process.

(With inputs from agencies.)