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Magicpin largest food delivery app on ONDC, logs 150,000 orders daily
Source: Business Standard
Magicpin has become the largest food delivery seller app on the Open Network for Digital Commerce (ONDC), registering 150,000 orders daily in September.
The hyperlocal delivery startup recorded a fifteen-fold increase in daily orders compared to 10,000 in May 2023. It started operating on the network with 100 daily orders in March last year. Since then, Magicpin has expanded its restaurant partnerships from 22,000 to 70,000.
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“In the last 15 months, we have touched 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,” said Anshoo Sharma, chief executive officer and co-founder of Magicpin, in a statement.
“At the same time, we are thrilled with Magicpin’s success on ONDC, where we have reached 1.5 lakh (150,000) daily orders for food delivery and logistics on the network,” he said.
ONDC is a non-profit, facilitative platform set up by the Department for Promotion of Industry and Internal Trade (DPIIT) as an alternative for online shopping.
According to Sharma, as many as 90 per cent of ONDC food orders from prominent buyer apps such as Paytm, Tata Neu and Ola are now fulfilled by Magicpin.
The company has powered the front-end of other buyer apps on ONDC through its SAAS offering called ‘magicpin in a box’.
Magicpin recently announced an investment of Rs 100 crore to onboard 100,000 new restaurants and cloud kitchens on ONDC. The funds are also invested towards offering onboarding incentives like zero commission, zero onboarding fees, major discounts and free home delivery for customers by newly partnered restaurants.
The company had, in March, entered logistics aggregation by launching its own delivery-as-a-service vertical Velocity, with the aim to address “the challenges posed by the fragmented nature of the logistics market, where no single third-party logistics (3PL) provider has been able to dominate vertically or horizontally due to the scattered demand patterns of brands.”
Magicpin provides its delivery-as-a-service to multiple brands, including KFC and Burger King.
First Published: Oct 08 2024 | 5:17 PM IST
