Magicpin's Rs 100 Crore Boost for Restaurants on ONDC Platform

Hyperlocal e-commerce firm magicpin is set to invest Rs 100 crore over three months to onboard 1 lakh restaurants and cloud kitchens onto the ONDC platform. This move aims to eliminate entry barriers and promote participation in the digital economy by offering incentives like zero commission and free home delivery.

Hyperlocal e-commerce firm magicpin aims to revolutionize the restaurant and cloud kitchen industry by investing Rs 100 crore over the next three months. The investment intends to onboard over 100,000 new restaurants and cloud kitchens onto the government-backed ONDC platform, as announced on Sunday.

magicpin plans to leverage its funds to offer onboarding incentives such as zero commission, zero onboarding fees, and free home delivery. The initiative's goal is to promote participation in the digital economy by removing high commissions and onboarding fees, according to Naman Mawandia, CXO - Enterprise Brands at magicpin.

magicpin, a leading seller app on ONDC, competes with major food delivery apps like Swiggy and Zomato. The company has introduced a self-onboarding tool to help restaurants and small to medium food delivery merchants join ONDC in under five minutes, further democratizing digital commerce, stated TKoshy, MD and CEO of ONDC.