Indian Economy News

After joining Open Network for Digital Commerce (ONDC), Magicpin's daily orders increased 100-fold in one month

The daily order volume of hyperlocal e-commerce startup Magicpin has zoomed 100-fold to 10,000 per day from over 100 within a month of joining the government promoted ONDC (Open Network for Digital Commerce) network. In March, it announced the onboarding of nearly 25,000 food merchants from its network of local restaurants and joined ONDC as the largest restaurant aggregator.

According to a statement from Mr. Anshoo Sharma, Chief Executive Officer (CEO) and Co-founder of Magicpin. The company saw a10 times increase in daily orders from less than 100 to 1,000. In the following two weeks, Magicpin scaled up to 10,000+ orders each day, which was another ten times from the previous milestone, making it more than 3 lakh orders per month.

Various services of this company are available via Paytm, PhonePe, Pincode, Spice Money, Mystore, Craftsvilla, Meesho, and other ONDC-affiliated platforms. Once an order has been placed on the buyer app, Magicpin receives it and completes the order, taking care of logistics and providing delivery from the restaurant partner to the customer.

ONDC CEO, Mr. T. Koshy mentioned that it is exciting to see the tremendous growth that Magicpin has received, it is the collaboration that the creation of ONDC has envisioned.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.