Active Stocks
Fri Mar 01 2024 15:59:51
  1. Tata Steel share price
  2. 150.00 6.46%
  1. State Bank Of India share price
  2. 769.30 2.67%
  1. Tata Motors share price
  2. 977.20 2.78%
  1. ITC share price
  2. 409.50 0.74%
  1. ICICI Bank share price
  2. 1,086.90 3.18%
Business News/ Companies / Start-ups/  Zomato-backed magicpin delivers over three lakhs order a month on ONDC
BackBack

Zomato-backed magicpin delivers over three lakhs order a month on ONDC

It has scaled up from less than 1,000 orders a day to 10,000 orders a day within two weeks, making it more than three lakh orders per month.

Anshoo Sharma, co-founder and CEO, magicpin.Premium
Anshoo Sharma, co-founder and CEO, magicpin.

Hyperlocal startup magicpin on Wednesday said that it is fulfilling more than 10,000 orders per day on the Open Network for Digital Commerce (ONDC), network. This is a jump from ound 1,000 orders that the company was completing two weeks ago.

magicpin has been able to both via its own seller portal and through seller portals of other start-ups like PhonePe’s Pincode Spice Money, Mystore, Craftsvilla, Meesho and Paytm.

The hyperlocal startup had in early April announced that it had on-boarded nearly 25,000 food merchants from its network of local restaurants while making it the largest restaurant aggregator on ONDC. These merchants are now available on other participants such as PayTm and PhonePe’s Pincode, Spice Money, Mystore, Craftsvilla, Meesho, others well.

It has scaled up from less than 1,000 orders a day to 10,000 orders a day within two weeks, making it more than three lakh orders per month.

magicpin is also fulfilling other ONDC participants’ backend logistics related to ordering and delivery.

“Our first mover advantage on the Hyperlocal front, gives us a great opportunity to not only contribute towards success of ONDC, in fact we also look forward to give our logistics, delivery and reach support to other start-ups in the country wanting to penetrate the hyperlocal markets across India, it will not only save them a lot time but huge amount of financial resources to use an existing mechanism rather than creating one for themselves from the scratch," said Anshoo Sharma, CEO and Co-founder of magicpin.

"We are thrilled to see magicpin's tremendous growth on the ONDC network. Their hyperlocal expertise and logistical support has been invaluable to not only their own sellers but also to other participants on the ONDC network. This is exactly the kind of collaboration and innovation we envisioned when we created ONDC, and we look forward to continuing to facilitate it to drive the growth of digital commerce in India," T Koshy, MD and CEO of ONDC

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Check all the latest action on Budget 2024 here. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 03 May 2023, 10:44 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie