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Magicpin records 15x order growth on ONDC network in 15 months, crosses 1.5 lakh daily orders

Economic TimesEconomic Times · 9m ago
Magicpin records 15x order growth on ONDC network in 15 months, crosses 1.5 lakh daily orders
Medial

- magicpin has achieved a 15 times growth in daily orders for food and logistics services on the government-backed ONDC platform. - They started with 22,000 restaurant partners and scaled it up to 70,000 partners on ONDC. - magicpin witnessed a rapid increase in daily orders, from 100 to 10,000 in just four weeks. - The company has achieved double-digit market share in major cities, with over 10% market share in cities like Delhi and Bengaluru. - 90% of food orders from prominent buyer apps like Paytm, Tata Neu, and Ola are now fulfilled by magicpin. - magicpin has invested Rs 100 crore to onboard 1 lakh new restaurants and cloud kitchens on ONDC, providing incentives such as zero commission, zero fees, discounts, and free home delivery for customers.

Ola pilots 10-minute food delivery starting from Bengaluru

EntrackrEntrackr · 7m ago
Ola pilots 10-minute food delivery starting from Bengaluru
Medial

Ola Consumer, the hyperlocal delivery arm led by Bhavish Aggarwal, has started piloting quick food delivery services in select areas of Bengaluru. The service is being offered through the Open Network for Digital Commerce (ONDC), a government-backed initiative. Under the food delivery section on the Ola Cabs app, Ola claims to deliver food items from various restaurants within 10 minutes. Ola currently offers F&B services via ONDC but only in limited cities. Apart from food delivery, it also offers last-mile logistics services for grocery shopping and pharmaceuticals via ONDC. Inc42 reported the development first. Ola will join the likes of half a dozen companies which have initiated or on the verge of launching their instant food delivery services. On Tuesday, offline discovery and rewards platform Magicpin also announced its quick delivery service MagicNOW, a 15-minute food delivery offering piloted across major Indian cities. The instant food delivery market is growing with quick commerce players like Zepto, Swiggy, and Blinkit leading the segment, while new players such as Swish and Zing gain traction. Ola ventured into the food delivery space in 2017 with the acquisition of Foodpanda for mere Rs 28 crore. The company aimed to challenge Swiggy and Zomato by leveraging its vast driver network. In 2018, Ola further acquired home chef marketplace Holachef to strengthen its position. However, the vertical failed to gain traction. By mid-2019, Ola scaled down Foodpanda's operations, focusing on in-house food brands, and by early 2020, it officially shut down the segment, citing a strategic shift to its core mobility biz. Ola's current foray into 10-minute food delivery seems trend-driven but faces significant challenges, especially with its mobility business struggling.

PhonePe enters quick commerce via Pincode: Report

EntrackrEntrackr · 6m ago
PhonePe enters quick commerce via Pincode: Report
Medial

PhonePe enters quick commerce via Pincode: Report Walmart-backed PhonePe is set to enter the quick commerce market through its e-commerce venture, Pincode, according to a media report. This marks the third attempt by the Sameer Nigam-led company in online retail. In April last year, PhonePe's Pincode app exited non-food categories on the Open Network for Digital Commerce (ONDC). It now offers only food delivery and unreserved ticket booking on ONDC. According to a report by ET, Pincode has fully pivoted to the quick commerce model, launching 15-minute deliveries in select areas of six cities: Bengaluru, Mumbai, New Delhi, Pune, Hyderabad, and Varanasi. The company plans to expand its coverage to about 25% in these markets in the coming weeks, with the full service rollout expected between April and June 2025. Entrackr has reached out to PhonePe for comments. Following Flipkart, PhonePe will be the second company from the same group to venture into the instant delivery market, with Zomato and Blinkit being other notable examples in this space. In recent months, both established and emerging companies have entered the quick commerce sector. Blinkit, Zepto, and Instamart lead the market, while newcomers like Flipkart, BigBasket, and Amazon are expanding their presence. Beyond groceries, there's a growing trend of 10-15 minute food deliveries, with Swiggy, Zomato, Blinkit, Zepto, Ola, and Magicpin sequentially announcing their entry into this space.

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