INSUBCONTINENT EXCLUSIVE:
magicpin on Tuesday said it has crossed the 1.5 lakh-mark for daily order of food and logistics services
Image: X@mymagicpin2 min read Last Updated : Oct 08 2024 | 2:04 PM IST
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.Click here to connect with us on WhatsApp
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
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.
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.(Only the headline and
picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated
feed.)First Published: Oct 08 2024 | 2:04 PMIST
